Educating Employees Creates Healthcare Budget Savings

Company Overview

This is a larger client involved with data storage through several locations and approximately 145 employees. Their primary location is Columbus, Ohio.

Key Challenges

As part of their employee benefits package, the company offers several benefit programs, including health insurance, dental insurance, and retirement plans. However, many employees were not taking full advantage of these programs, which was impacting the company’s return-on-investment (ROI).

MBA Solution Presented

The main challenge faced by our client was the low participation rate in their employee benefit programs. Many employees did not fully understand the benefits offered or how to take advantage of them. This led to higher costs for the company as they had to pay for unused benefits.

To address the low participation rate in their employee benefit programs, our team designed and assisted with the implementation of an employee education program, detailing the benefits offered and how to best utilize them. The program included the following components:

1. Benefit Guides: By creating benefit guides that provided employees with detailed information on the benefits offered, workers could better understand the company benefits, how to enroll, and the costs associated with each program.
2. Employee Meetings: By holding meetings to discuss the benefits offered and answer any questions, the employees would be provided an opportunity to learn more about the benefits and be able to make more informed decisions regarding their personal health and wellness.
3. Online Resources: Through an online resource center that employees could access at any time, individuals would have access to benefit guides, frequently asked questions, and other helpful resources.

Measurable Results

Through implementation of the education program, the client was able to provide employees with a better understanding of the benefits offered. This allowed employees to make more informed decisions about their benefits, leading to increased participation in the benefit programs and a better ROI for the company.