In the dynamic landscape of employee benefits, staying complacent can hinder progress and cost an organization significant financial resource. At Total Benefit Solutions, we take pride in our proactive approach to addressing complex employee benefit challenges. In this blog post, we highlight a case study that exemplifies our commitment to providing innovative solutions and delivering tangible results for our clients.
Broker Change Leads to Better Results
The Challenge: A mid-sized group prospect approached us with a pressing issue – dissatisfaction with their current benefits broker. Faced with a 17% health insurance renewal, the client felt that their existing broker was not adequately exploring cost containment strategies. Seeking guidance, they turned to Total Benefit Solutions for a fresh perspective and solutions.
Our Approach: Recognizing the need for a comprehensive assessment, our team engaged in a detailed consultation with the business owner and Human Resource Director.
The key areas of focus included:
- Corporate goals and philosophy regarding employee benefits.
- Evaluation of the existing benefit structure and costs.
- Exploration of options for effective cost containment strategies.
- Integration of wellness initiatives into the benefits portfolio.
- Improvement of communication strategies for better employee understanding.
Our presentation resonated with the client, leading them to choose Total Benefit Solutions as their new benefits broker. Promptly, we initiated strategic changes to their existing program, implementing two additional health plans (including an HSA program), modifying the employee contribution schedule, and introducing a wellness program. As a result of these enhancements, we successfully reduced their overall health insurance increase to 12%, translating to savings exceeding $30,000.
Notably, we facilitated the funding of the wellness program through savings generated in their ancillary programs. By leveraging our industry connections, we seamlessly transitioned the client to another carrier, securing cost-effective ancillary benefits without compromising on quality.
At Total Benefit Solutions, we understand the intricate balance between employee satisfaction and cost-effectiveness in benefit programs. This case study is just one example of how our carefully developed process and proactive approach can deliver maximum results. If you’re seeking transformative solutions for your company’s benefit challenges, we invite you to explore the possibilities with Total Benefit Solutions. Contact us today to see how we can tailor our expertise to meet your unique needs and drive success for your organization.
We’re committed to providing exceptional support, so please don’t hesitate to reach out to our dedicated Total Benefit Solutions health insurance specialists at (215)-355-2121.We’re here to answer any questions or address any concerns you may have.