Challenges
Not all employers face out-of-control healthcare costs, but it can happen to any company relatively quickly.
A 200 eligible life employer with 125 employees on the plan received a 20% medical insurance increase and were left with what seemed like no options to curb costs.
The group provided BBG with a simple census, and we prepared an Individual Coverage Health Reimbursement Arrangement (ICHRA) proposal with concrete pricing. We were able to show a 6 figure reduction in premium below the current pricing without sacrificing the level of employee benefits.
Solution
The BBG ICHRA and SharedFunding delivered a solution the conventional incumbent broker could not offer. We designed a plan that delivered the same level of benefits with a significant premium reduction. BBG worked with all employees to ensure they understood their new benefit and delivered the level of service required by each member.Currently
The group is experiencing a premium reduction of $500,000, and their employees are settled in and well taken care of, thanks to the help of BBG. Leadership has expressed their gratitude for bringing this solution.At a Glance
BBG Inc. is a trusted partner for businesses locally in Ohio and on a national scale, providing employee benefits administration solutions that help companies take control of their healthcare costs.