November Case Study: The Difference Card Saves Manufacturing Firm Over $150,000 Annually Guaranteed with Enhanced Health Benefits!
A Georgia-based manufacturing company faced a significant health insurance renewal increase from Anthem Blue Cross Blue Shield (BCBS) of Georgia, which threatened to raise their premiums by 25%. With a 200-employee workforce, this increase would have added over $500,000 to their health insurance costs, creating a substantial financial strain if no changes were made. To address this, the company engaged USI Insurance Services to explore alternative solutions that would reduce costs while maintaining robust healthcare benefits for their employees.
USI’s consulting team collaborated with Oldemar Da Silva from The Difference Card’s Southeast Market team to develop a tailored cost-containment strategy. Working with Anthem BCBS, they restructured the company’s health plan options, reducing three existing plan options with individual deductibles ranging from $500 to $2,000 down to two streamlined plans with deductibles of $3,000 and $5,000. This redesign decreased the healthcare premiums by 21%, saving the company approximately $480,000 annually in fixed insurance costs.
The company then reinvested a portion of these savings into The Difference Card’s Medical Expense Reimbursement Plan (MERP), with the Difference Card team customizing the funding structure to provide enhanced benefits. This customized MERP included a mix of medical copay, deductible, and pharmacy reimbursements, creating a plan that reduced employees’ out-of-pocket costs while expanding their benefits.
The end result was impressive: the manufacturing firm realized over $150,000 in guaranteed annual savings while providing a more attractive benefits package for employees. Additionally, the company chose The Difference Card’s Monthly Budget feature within the Difference Guarantee program, which capped their reimbursement expenses at a fixed monthly amount and offered a 100% return on any surplus funds. With this feature, the firm anticipates saving an additional $100,000 if their health plan achieves targeted outcomes.
The Difference Card Impact
Through similar solutions, The Difference Card enables companies across various industries to save an average of 18% on health insurance costs, often with enhanced benefits that improve employee satisfaction and retention.
Explore Your Savings Potential
To find out how much your business can save with The Difference Card, connect with a consultant in your area or request a customized proposal today.
Key Takeaways
- A Georgia-based manufacturing company faced a proposed 25% health insurance premium increase from Anthem BCBS that would have added over $500,000 annually for its 200 employees.
- USI Insurance Services, working with Oldemar Da Silva and The Difference Card and coordinating with Anthem BCBS, restructured the company’s offerings from three plans (deductibles $500–$2,000) to two plans (deductibles $3,000 and $5,000), lowering premiums by 21% and saving about $480,000 annually.
- The company reinvested part of the savings into a customized Medical Expense Reimbursement Plan (MERP) from The Difference Card that reimburses medical copays, deductibles, and pharmacy costs, reducing employees’ out-of-pocket expenses and expanding benefits.
- The firm realized over $150,000 in guaranteed annual savings and adopted The Difference Card’s Monthly Budget feature (which caps reimbursements and returns 100% of surplus), projecting an additional $100,000 in potential savings if plan targets are achieved.
- The Difference Card reports average savings of 18% for companies across industries while improving benefits, employee satisfaction, and retention; businesses are encouraged to contact a consultant or request a customized proposal to explore savings.
