Challenges
A 37 eligible life employer with 25 employees on their plan recently experienced another medical insurance increase that pushed their rates to a tipping point, becoming unsustainable for the company. This escalation in costs was a concern for both management and employees. 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 $340,000 which is 50% below what they were previously paying. 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.