November Case Study: The Difference Card Saves Manufacturing Firm Over $150,000 Annually Guaranteed with Enhanced Health Benefits!
A Georgia-based manufacturing company faced a significant health insurance renewal increase from Anthem Blue Cross Blue Shield (BCBS) of Georgia, which threatened to raise their premiums by 25%. With a 200-employee workforce, this increase would have added over $500,000 to their health insurance costs, creating a substantial financial strain if no changes were made. To address this, the company engaged USI Insurance Services to explore alternative solutions that would reduce costs while maintaining robust healthcare benefits for their employees.
USI’s consulting team collaborated with Oldemar Da Silva from The Difference Card’s Southeast Market team to develop a tailored cost-containment strategy. Working with Anthem BCBS, they restructured the company’s health plan options, reducing three existing plan options with individual deductibles ranging from $500 to $2,000 down to two streamlined plans with deductibles of $3,000 and $5,000. This redesign decreased the healthcare premiums by 21%, saving the company approximately $480,000 annually in fixed insurance costs.
The company then reinvested a portion of these savings into The Difference Card’s Medical Expense Reimbursement Plan (MERP), with the Difference Card team customizing the funding structure to provide enhanced benefits. This customized MERP included a mix of medical copay, deductible, and pharmacy reimbursements, creating a plan that reduced employees’ out-of-pocket costs while expanding their benefits.
The end result was impressive: the manufacturing firm realized over $150,000 in guaranteed annual savings while providing a more attractive benefits package for employees. Additionally, the company chose The Difference Card’s Monthly Budget feature within the Difference Guarantee program, which capped their reimbursement expenses at a fixed monthly amount and offered a 100% return on any surplus funds. With this feature, the firm anticipates saving an additional $100,000 if their health plan achieves targeted outcomes.
The Difference Card Impact
Through similar solutions, The Difference Card enables companies across various industries to save an average of 18% on health insurance costs, often with enhanced benefits that improve employee satisfaction and retention.
Explore Your Savings Potential
To find out how much your business can save with The Difference Card, connect with a consultant in your area or request a customized proposal today.
