August Case Study: The Difference Card Helps Healthcare Research Company to Improve Health Benefits and Save Over $110,000 Annually!
This clinical research organization, located in the upstate region of New York state, was spending close to $1 Million on their health insurance plan. The company was looking for healthcare savings, without reducing their employee benefits offering. A competitive bid was conducted with several consulting firms vying for their business. The middle market brokerage team at USI Insurance Services was ultimately able to win the broker of record business by bringing the Difference Card MERP solution to this prospective customer.
The team at USI Insurance Services competing to win this account was made up of Paula Lora, Hans Stolz, Sam Kurathowski and Eric Labaska. USI also had the assistance of their in-house general agent, Emerson Rogers, with Lisa Lindbald helping to support this deal. Lisa, Eric, Sam, Hans and Paula worked closely with Ashley Dube and Bob Holt from the Difference Card team to provide the ideal solution for this customer and ultimately win their business. This client had three plan options through BCBS. Two of the plans were copay first options and one plan was a qualified high deductible health plan. The Difference Card and USI teams collaborated with their carrier partners to come up with the most cost-effective, higher deductible plan options, which reduced the client spend by $250,000. Next, they created a funding strategy that maintained the qualified HDHP status of the core plan and improved the benefits coverage for the middle and high plan options. This allowed members to continue to contribute to a Health Savings Account (HSA) on a pre-tax basis, if they chose the qualified plan. To provide an administratively simple banking and budgeting experience, the client purchased the Monthly Budget feature of the Difference Guarantee . This program put a cap on their monthly reimbursements and delivered guaranteed savings to the employer. After the claims and administrative costs were accounted for, the client was left with a net savings of -11%, worth $110,000 annually! By delivering better benefits at a better price, both the USI and Difference Card teams were able to help this customer achieve their goals and win the new business.
It was very gratifying to help this non-profit save money on their healthcare spend and help the USI broker win this new client!
Bob Holt, Senior Consultant
The Difference Card helps employers in all industries, to save an average of over 18% on their health insurance costs, while often improving benefits and the experience for employees.
To learn how much The Difference Card can save you, find a consultant in your region or request a proposal today.
