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July Case Study: Education Client Saves $237,287 Using The Difference Card

July 11, 2022

Using our proprietary MERP (Medical Expense Reimbursement Plan) strategy, The Difference Card helped an education client build the most cost-effective healthcare plan for their July renewal.

The client was receiving a 46.5% renewal increase from Humana. The firm’s Health Insurance Broker engaged The Difference Card to help with a solution to reduce this renewal and IMPROVE benefits to staff.

Our Mid-Atlantic Team was ultimately able to save this customer $237,287 off their health insurance costs and reduce their 46.5% renewal down to 17.8%.

This company has about 160 employees with 109 enrolled in the Health Plans. Their current benefits strategy included two plan offerings – a Gold Copay Plan & a Silver H.S.A. Plan.

By moving this company to two Bronze Plans and allowing them to stay with the same health insurance carrier, The Difference Card was able to reduce the fixed insurance premiums by more than 40% for this customer.

The HSA plan was kept qualified to allow members to continue to contribute towards their savings goals.

Our team of Data Analysts and Underwriters reviewed the demographics of the group and came up with a conservative forecast of claims utilization.

They built back to two plan offerings as they offered today, and enhanced benefits for employees.

Employees saw a decrease in office visit copays, which encouraged them to receive the preventative care they needed.

Many Difference Card customers look for financial protection when taking on the risk of paying claims for their employees. This Education Customer decided to purchase The Difference Guarantee insurance policy, which capped the group’s utilization liability and guaranteed the savings to their company.

The end result was $237,287 in net savings for this education client, while improving benefits.

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“Maintaining the benefits and the network options was essential to this group for their teachers and staff. Even with a large renewal, our solution made this a reality and helped to reduce overall fixed costs as well. In addition, it really helped us to have a broker partner that supported us and their client during implementation”.

David Lauritzen, Senior Consultant, Mid-Atlantic

The Difference Card helps employers in all industries to save an average of 18% off their health insurance costs, while often improving benefits for employees.

To learn how much The Difference Card can save you, find a consultant in your region or request a proposal today.

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