Challenge:
One of the largest and most well recognized non-profit organizations was frustrated by employee dissatisfaction with the cost and quality of benefits. In addition, the organization had been receiving inaccurate and inconsistent plan financial data and inaccurate compliance advice. Management did not have confidence in their overall health plan design and strategy.
Solution:
Completely reconstructed the historical financial records. Completed a compliance assessment. Created a new benefits strategy that improved benefits & lowered costs. Created one-on-one enrollment strategy for OE and new hires to provide personal guidance for benefit selections. Completed analysis, planning and execution of multiple local and national acquisitions.
Impact:
The actuarial value of the benefits has remained the same for 6 years. For that time period, the plan achieved $7.7 million of savings vs median cost trends. All employee contributions in 2021 are 21% lower than in 2015. Employees receive a $600/$1,000 annual HRA account fund and families receive $1,200/$2,000. Improved benefits, lower employer costs, and reduced payroll deductions for employees…a win-win-win!
