Case Study #1
Industry:Mill Shop
Eligible Employees: 80
Location: Massachusetts
Project: Assist client in a move from PEO Vendor
FIND/REPLACE: Group Medical, Dental, Vision, Life, Long Term Disability, Flexible Spending Account, COBRA and implement new coverage’s Voluntary Life and Short Term Disability
Review: Client to move off anniversary on all lines of coverage – benefit to employees will be renewal will coincide with deductible calendar year and benefit to employer eliminates the tax reset liability.
Presentation:
Medical – client to stay with Harvard Pilgrim Healthcare and current plan design – and have a slight rate reduction (the renewal for June 1st with PEO would have been 8%).
Dental – client moved from Guardian to Humana – resulted in improved benefit design, cost savings and 2 year rate guarantee.
Vision – client moved from VSP to Humana – resulted in improved benefit design.
Life – client moved from Aetna to Principal – improvement on age reduction schedule.
Long Term Disability – client moved from Aetna to Principal – improved plan language, implemented gross up (making the benefit non taxable)
Short Term Disability – implemented this new plan with Principal
Voluntary Life – implemented this new plan with Principal
Process: This renewal project was completed at the end of April and multiple open enrollment meetings introducing the new carrier were held the second week of May – Both the client and the employees were very happy.
Case Study #2
Industry: Non Profit – Emotional, Educational and Behavioral Support Services
Eligible Employees: 300
Locations: Several throughout MA and RI
Headquarters: Taunton, MA
Project: Benefit Services Incorporated became the broker on April 1st and quickly reviewed the renewal presentation that had been delivered by the prior broker, a 15% rate increase to go in effect on July 1st. The client was told that the only alternative was to make major plan design changes to two of the three plans being offered to lower the proposed rate increase.
Review: The first step was to review the client’s current plan, rates, contribution strategies, enrollment, communications, corporate goals, and compliance issues.
RFP: The next step was to quickly get a Request for Proposal out and start negotiating immediately with Blue Cross Blue Shield, the incumbent carrier.
Presentation: Because a complete RFP process was done, it was found that Harvard Pilgrim Healthcare could match all three current plans exactly and keep the rate increase to less than 2%.
Process: This renewal project was completed at the end of April and multiple open enrollment meetings introducing the new carrier were held the second week of May – Both the client and the employees were very happy.