100 Employees, Publishing and Distribution
Employee Benefits: Contract Negotiation
Issue: The employer had contracted with the same carrier for three years but was unable to gain insight into how employees and dependents utilized their health insurance benefits.
Solution: After getting medical plan quotes from multiple health insurance carriers, Paradigm Group recommended a change to a new carrier, which would provide useable claims data. The change also entailed a 3 percent rate reduction instead of the incumbent’s 20 percent increase, plus slightly richer benefits.
Outcome: The employer saved $150,000 in annual premium and gained access to sufficient relevant claims data to implement a targeted wellness campaign.
Case studies are for illustrative purposes only. Individual results will vary. Past performance does not guarantee future results.