Challenge:
Ten years ago, Benefit Commerce Group met with an industrial machinery company with 250 employees on their medical plan, with 10 branches in 3 states. They had 7 medical plans with 4 insurance companies. They had regularly experienced double-digit annual increases which was not sustainable. Something had to change.
Solution:
The executive team and Benefit Commerce Group developed a long-term strategy that aligned the economic interests of the company and its employees. They engaged the employees to be a part of the solution and rewarded employees for making the right choices. They implemented proven best practices and educated their employees on how to best navigate the healthcare system and rewarded them for healthy behavior.
Impact:
The results: Lower overall health plan costs
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- Lower payroll deductions
- No reduction in benefits
- Improved health of employee population
- Higher satisfaction with health plan
- Long-term sustainability
That was 2010. What about recent years? Still a success. Since 2016, the company has beaten median trends by $8,684,775…That’s $40,751 per employee. At the recent 2021 open enrollment, the CEO announced their employee benefits and contributions were NOT changing for the 4th straight year for employees and families.
