BKS Helps Client Streamline Benefits And Reduce Costs.
Client was looking to continue offering quality benefits to attract and retain top talent at the same time provide a better benefit package, provide solid education and ease the administrative burden for the HR department.
Background and Context
Administratively client was challenged with benefit package with too many carriers in play, too many file feeds and billing reconciliation was becoming a challenge.
Employee education was lacking around choice, plan designs, costs, and utilization.
High Deductible Health Plans in play with low participation. In order to plan for the long-term and mitigate increases, education was needed.
Solutions and Tactics
Eliminate the six carriers in play and consolidate down to two. One for medical and one for ancillary. Saved on admin, confusion, file feeds, and received a package discount.
We helped the employees understand their choice by explaining the cost of each plan along with the deductible and out-of-pocket so they could make an educated choice.
We provided comprehensive education regarding the H.S.A. plan, helping employees understand how to save for their deductible should they have expenses.
Value and Lessons
With this change, the group and the employees saw savings in their benefit costs. Benefits were streamlined, and the employer saved on file feed costs and admin time.
With education and resources, employees can become wise consumers of healthcare. We also made sure the employees understood their role in controlling claims costs.
Employees are now in a better position if they have a claim under the HDHP. This will empower members to become confident consumers over time.
Senior Care Facilities trust BKS’ holistic approach to streamline their plan benefits.