Enhancing Employee Benefits Through GAP Plans

Company Overview

A communications company with 125 employees located in Austin, Texas.

Key Challenges

This mid-sized client had a robust health insurance program in place, but rising health care costs were placing an increasingly heavy burden on employees. Despite having health insurance, many employees were struggling with unexpected medical bills, leading to financial stress and reduced job satisfaction. There was widespread acknowledgement among corporate executives that a need existed for a program to support the coverage of out-of-pocket expenses that the company’s primary insurance program didn’t cover.

MBA Solution Presented

Our team presented management with a plan aimed at reducing this financial stress, while at the same time, improving the overall package of benefits to increase job satisfaction, increase employee retention and better attract top talent. By implementing a GAP health insurance program as a supplement to their existing health plan, the company could fill the “gaps” in coverage left by their core benefit program, providing an extra layer of financial protection for employees and their dependents.

Measurable Results

The GAP plan proved successful at providing a substantial reduction in employee out-of-pocket expenses. Additionally, the enhanced benefits package led to higher employee morale and reduced turnover rates, in addition to helping the company attract the highly skilled candidates it was seeking.