Case Study for Municipality that Saves $1,48,658 on Renewals

May Case Study: Municipality Saves $1,480,658 on Renewal Using The Difference Card!

May 25, 2023

Using our proprietary strategy, The Difference Card helped a municipality create the most cost-effective healthcare plan for their May renewal.

The client was receiving a 21% renewal increase from the NJ State Health Plan. This municipality hired a new  Health Insurance Consultant and engaged The Difference Card to help with a solution to control costs.

Our New Jersey Team was ultimately able to save this customer $1,480,658 off their health insurance costs and reduce their 21% renewal down to -0.2%.

This municipality has about 350 employees with 317 enrolled in the Health Plan. Their current benefits strategy included one platinum PPO option.

By moving this municipality to a lower cost option with Horizon, The Difference Card was able to reduce the fixed insurance premiums by almost 30%.

Our team of Data Analysts and Underwriters reviewed the employee information and came up with a conservative forecast of claims utilization. After benefits were built back to the original single option benefit plans by using The Difference Card Strategy, the net renewal was 0.2% below current.

Many Difference Card customers look for financial protection when taking on the risk of paying claims for their employees. This municipal customer decided to purchase The Difference Guarantee insurance policy, which capped the client’s utilization liability and guaranteed over one million dollars in savings versus renewing as is.

”New Jersey municipalities in the State Health Plan have been hit with an unprecedented rise in health insurance costs. The Difference Card strategy allows these public entities to continue to deliver equal to or better than coverage, while reducing their spend by millions!”

Gus Belo, Senior Consultant at The Difference Card

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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