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.
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Bob has more than 28 years of experience in the insurance industry. Drawing on his experiences as a top account executive at Prudential Healthcare, he capitalized on the opportunity to ... Read More
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Rusty has more than 16 years of experience in the insurance industry. Joining Paradigm Group in 2007, Rusty provides financial analysis and client support to Paradigm Group’s clients with over ... Read More