Bailey Loseby of USI Insurance Services Delivers Over $763,000 in Guaranteed Annual Savings for North Carolina Construction Company
Key Takeaways A Quick Summary
Key Takeaways
- Bailey Loseby of USI Insurance Services (Charlotte, NC) was named The Difference Card's November Broker of the Month for her work delivering innovative employee benefits solutions.
- Bailey and Steve Marquis helped a North Carolina construction company with 385 employees achieve $763,012 in guaranteed annual savings — an 11% guaranteed reduction in healthcare costs — by avoiding a large Cigna rate increase.
- They implemented The Difference Card's Medical Expense Reimbursement Plan (MERP) with the Monthly Budget feature to pair a higher-deductible plan with employer-funded reimbursements and restructure healthcare funding.
- Key Monthly Budget/MERP advantages include the Difference Guarantee (caps employer reimbursement liability), predictable monthly budgeting, and 100% surplus return if claims are lower than the funded budget.
- The case illustrates the value of the partnership between USI Insurance Services and The Difference Card in using MERP design, technology, and guarantees to control rising healthcare costs while preserving employee benefits.
The Difference Card is proud to recognize Bailey Loseby of USI Insurance Services in Charlotte, North Carolina, as our November Broker of the Month! Bailey's commitment to delivering innovative employee benefits solutions and helping employers control rising healthcare costs has made her an outstanding partner to The Difference Card.
Through her recent collaboration with Steve Marquis of The Difference Card's Carolinas sales team, Bailey helped a North Carolina construction company with 385 employees overcome a challenging health insurance renewal and achieve an impressive $763,012 in guaranteed annual savings.
By implementing The Difference Card's Medical Expense Reimbursement Plan (MERP) strategy with the innovative Monthly Budget feature, Bailey and Steve transformed a significant health insurance rate increase into an 11% guaranteed reduction in healthcare costs, while helping the employer maintain a competitive benefits program for its workforce.
Turning Challenging Renewals Into Significant Savings
Like many employers in the construction industry, this North Carolina company was facing mounting pressure from rising healthcare costs. With 385 employees and a health insurance program through Cigna, the organization was confronted with a substantial renewal increase that threatened to put additional strain on its operating budget.
For an employer operating in the competitive construction industry, controlling employee benefits expenses is critical. Rising insurance premiums can impact profitability, limit opportunities for investment, and create difficult decisions about employee contributions and benefit levels.
Recognizing the need for a more sustainable approach, Bailey partnered with Steve Marquis to evaluate alternative funding strategies that could deliver meaningful savings without sacrificing the value of the company's employee benefits program.
Together, they developed a customized solution utilizing The Difference Card's Medical Expense Reimbursement Plan (MERP), allowing the employer to restructure its healthcare funding strategy and significantly reduce fixed insurance premium expenses.
The results exceeded the traditional renewal options available to the employer.
$763,012 in Guaranteed Annual Savings
By combining Bailey's expertise in employee benefits consulting with The Difference Card's innovative MERP solution, the team delivered a remarkable financial outcome.
The results at a glance:
- Industry: Construction
- Location: North Carolina
- Employees: 385
- Health Insurance Carrier: Cigna
- Solution: Difference Card MERP with Monthly Budget
- Guaranteed Renewal Reduction: 11%
- Guaranteed Annual Savings: $763,012
Instead of accepting a significant rate increase from Cigna, the employer was able to implement a strategy that reduced its overall healthcare costs by 11% on a guaranteed basis.
The $763,012 in annual savings represents a meaningful financial advantage for the construction company, freeing up resources that can be reinvested into business operations, employee compensation, workforce development, and future growth.
Most importantly, Bailey and Steve demonstrated that employers do not have to choose between controlling healthcare expenses and maintaining a competitive employee benefits offering.
The Difference Card Monthly Budget: Predictable Costs with Guaranteed Savings
A critical component of this successful strategy was the implementation of The Difference Card's Monthly Budget MERP solution.
The Difference Card MERP allows employers to pair a higher-deductible health insurance plan with a customized medical expense reimbursement arrangement. This strategy can significantly reduce fixed insurance premiums while using employer-funded reimbursements to help employees manage their out-of-pocket medical expenses.
For this construction company, the MERP strategy created an opportunity to reduce insurance costs while preserving valuable healthcare benefits for employees and their families.
The addition of the Difference Guarantee and Monthly Budget feature provided another important layer of financial protection and predictability.
With Monthly Budget, employers can enjoy many of the financial advantages associated with a level-funded healthcare arrangement while maintaining the flexibility of a MERP strategy.
Key advantages include:
- Guaranteed Savings: The Difference Guarantee caps the employer's reimbursement liability, protecting the company from unexpected claims expenses and securing the projected savings.
- Predictable Monthly Budgeting: The employer benefits from consistent monthly funding requirements, simplifying financial planning and cash flow management.
- 100% Surplus Return: If actual reimbursement claims are lower than the funded budget, the employer receives 100% of the available surplus at the end of the plan year.
- Improved Employee Benefits: The MERP can reimburse eligible out-of-pocket healthcare expenses, helping employees maintain access to valuable medical coverage while reducing their financial exposure.
For a construction employer managing hundreds of employees and fluctuating business expenses, this combination of guaranteed savings, predictable monthly costs, and potential surplus returns provides a powerful alternative to traditional health insurance funding.
A Strong Partnership Between USI Insurance Services and The Difference Card
This success story highlights the value of the growing partnership between USI Insurance Services and The Difference Card.
USI is one of the nation's leading insurance brokerage and consulting firms, helping employers navigate the increasingly complex employee benefits marketplace. By combining sophisticated consulting capabilities with innovative cost-containment strategies, USI advisors like Bailey Loseby are helping employers find new ways to address rising healthcare expenses.
Working closely with Steve Marquis, Bailey identified an opportunity to introduce a creative solution that went beyond the traditional carrier renewal process.
Steve's expertise in MERP design and healthcare cost-containment strategies complemented Bailey's understanding of her client's business objectives, resulting in a customized approach that delivered substantial financial value.
The collaboration also demonstrates the importance of strong relationships between employee benefits consultants and specialized solution providers.
By working together, Bailey and Steve were able to transform a difficult renewal situation into a long-term opportunity for improved healthcare cost management.
Recognizing Bailey Loseby's Commitment to Her Clients!
The Difference Card is pleased to recognize Bailey Loseby as our Broker of the Month for her dedication to delivering exceptional outcomes for her clients.
Her work with this North Carolina construction company is an excellent example of how forward-thinking benefits consultants can leverage innovative strategies to challenge traditional healthcare cost trends.
Rather than simply negotiating a smaller premium increase, Bailey worked with The Difference Card to deliver a guaranteed reduction in healthcare spending worth more than three-quarters of a million dollars annually.
Congratulations to Bailey Loseby of USI Insurance Services in Charlotte, North Carolina, on being named The Difference Card's November Broker of the Month!
We also recognize Steve Marquis and The Difference Card's Carolinas sales team for their continued commitment to helping brokers and employers across the region achieve meaningful healthcare savings.
Together, Bailey and Steve have demonstrated how the right partnership, combined with an innovative MERP strategy, can turn a challenging health insurance renewal into an extraordinary financial success.
About The Difference Card
The Difference Card helps employers reduce healthcare costs while delivering competitive employee benefits through innovative Medical Expense Reimbursement Plan (MERP) solutions. By combining strategic health insurance plan design, advanced reimbursement technology, and the Difference Guarantee, The Difference Card helps organizations achieve predictable healthcare spending, guaranteed savings, and improved benefits for their employees.
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