Customized Health Insurance Plan for a Manufacturing Company

Company Overview

This prospect was a manufacturing company employing 50 workers, located in King of Prussia, Pa.

Key Challenges

The company was a newly formed business that wanted to offer a customized health insurance plan that met the unique needs of their workforce. They had received a few other quotes from different brokers but were not yet satisfied with the combination of rates and services offered. After a colleague who had worked with us previously referred them to us, one of our account representatives met with them to discuss the information needed to help them design and implement a plan.

MBA Solution Presented

Our MBA representative conducted a comprehensive analysis of the company's workforce, including their age, health status, and healthcare utilization patterns. Based on this information, the rep recommended a plan that included a high-deductible health plan (HDHP) with a health savings account (HSA) and an optional supplemental insurance plan to cover out-of-pocket costs.

The HDHP with HSA allowed employees to contribute pre-tax dollars to pay for medical expenses, which helped to reduce their out-of-pocket costs. The supplemental insurance plan provided additional coverage for expenses not covered by the HDHP. After obtaining a rate comparison from several companies, our rep returned and made a presentation detailing our firm’s portfolio of services, which the company decided met their expectations, electing to move forward with our proposal.

Measurable Results

The customized plan helped the manufacturing company to control their healthcare costs while providing employees with comprehensive coverage that met their needs, saving them over $28,000 over the best previous proposal and picking up additional services in the process.