Problem:
Windward, the elite ServiceNow workflow management consulting firm, felt trapped. They had an unusually high number of large claimants, were facing a 46% increase on their health insurance renewal, and insurance carriers declining to quote the group. They asked Health Compass for a remedy.
Action:
Health Compass’s Health Insurance Strategy Audit (HISA) analyzed Windward’s insurance broker’s recommendations. Health Compass identified a number of opportunities that had been overlooked, because they favored Windward more than the broker.
Utilizing Health Compass’s Strategic Health Insurance Creation (SHIC) methodology, Health Compass designed a custom plan for Windward that improved the way healthcare was financed and procured for the organization. Eliminating coverage that Windward employees were not using, and securing higher value coverage for what they needed, generated the following results:
Year 1 Results:
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- Saved $357,686 ($8,318 Per Employee)
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- Copays and deductibles waived
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- Improved the employee education
Year 2 Results:
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- Saved $576,232 ($13,400 Per Employee)
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- Improved employee satisfaction
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- Expanded benefits portfolio with pet insurance and an employee assistance program (EAP)
- Expanded benefits portfolio with pet insurance and an employee assistance program (EAP)
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