Challenge:
45 stores in 18 states. 400+ employees on their health plan. Completed a broker RFP in 2011. They interviewed 7 benefits firms and chose Benefit Commerce Group.
Solution:
Conducted an analysis on current plan design and employee engagement – identified the highest cost drivers. Put together a long-term, sustainable employee benefits strategy.
Impact:
Fast forward to 2021…it worked. The company succeeded in changing the paradigm by creating a benefits culture of consumerism & wellbeing. The plan has trended 53% below medians during that period, saving the company over $11 million ($32,895 per employee). At the same time, benefits have remained unchanged with employees having a deductible exposure of $1,000 (after their HRA account) and a maximum OOP of $2,750 and no copays required. From 2011-2021, biweekly payroll deductions have only increased from $36 to $39 for single, and family coverage deduction from $193 to $222.
