400+ person Healthcare Organization
iSure to the rescue
This was a case of the company benefits not being shopped each year by the existing Broker. This resulted in the company, it’s employees and their families grossly over paying for inferior benefits. We took the reins and when all the smoke cleared, we saved the company over $350,000 per year, lowered premiums for all the employees and their dependents and they all ended up with far richer benefits than what they began with.
The Details
- Texas based, regional Healthcare organization with 400+ employees
- Had been with the same broker for nearly a decade
- Rising costs and a traditional high-deductible health plan were creating pressure on both the employer and employees.
Leadership suspected there were opportunities for savings and improvements but lacked a clear strategy for achieving them. After a search online they found iSure, LLC.
How We Helped
Our team conducted a comprehensive review of the benefits program, asking probing questions to uncover hidden inefficiencies. We shopped the market aggressively, leveraging carrier relationships and analyzing multiple plan designs. We also focused on how to enhance the employee experience by improving coverage and simplifying administration.
The End Result
The outcome was transformative:
- Options presented for savings were from $419,000 to $250,000. They choose a plan option with a total savings of $358,964.92.
- Transitioned from a $4,000 deductible plan to a $0 deductible plan with fixed copayments for inpatient ($1,500) and outpatient surgeries ($3,000).
- Employees and their families saw tangible benefits, with average employee/family savings of close to $1,600 per year.
- Co-pays for both primary care and specialist visits were lowered, making care more affordable.
- iSure introduced specialized employer solutions to assist with enrollment and a dedicated service team to streamline administration and improve support.
This case demonstrates the value of a proactive brokerage approach. By combining strategic analysis, aggressive negotiation, strong carrier relationships and a focus on employee well-being, the organization achieved the best of both worlds: substantial employer savings and richer employee benefits.
Ready to Get Started?
iSure’s diligence, caring, and determination is the difference that puts us ahead of other insurance brokers. Our team is dedicated to finding your company the best possible plan and being your benefits solutions advocate.
It is important to note that we never charge you for using our services, our commission for assisting you comes from the insurance companies. We act as a broker and run quotes with all of the major carriers guaranteeing you the best rate for the benefits that best suit your needs as an employer.
