September Case Study: Kentucky Non-Profit Saves $97,485 on Renewal Using The Difference Card!
Using our proprietary Difference Guarantee strategy, the Difference Card helped a Kentucky-based Non-Profit create a more cost-effective healthcare plan for their September renewal. The client was receiving a 24% renewal increase from their Humana plan when the non-profit’s Health Insurance Consultant engaged The Difference Card to help with a solution to reduce their costs.
Our Midwest Team was ultimately able to save this customer $97,485 on their health insurance costs.
This employer had about 75 participants in the medical plan, and their original benefits strategy included two copay plans to choose from.
By moving this group to two lower-cost copay plans within the same network and funding the difference, The Difference Card was able to reduce their premiums by almost 25%.
Our team of Data Analysts and Underwriters reviewed the benefits, employee census, and plan rates and came up with a conservative forecast of claims utilization. After benefits were built back to the original dual-option benefit by using The Difference Card Strategy, the net renewal was flat.
Many Difference Card customers look for financial protection when taking on the risk of paying claims for their employees. This non-profit decided to purchase The Difference Guarantee insurance policy, which capped the client’s liability and guaranteed almost $87,000 in savings.
This non-profit does the wonderful work for an underserved population of citizens. It was important to the broker that they not be burdened with the carrier’s 24% increase, but still be able to offer rich benefits for their employees.
The broker was able to accomplish several goals using the Difference Card, such as getting them to a rate hold and offering the employees the same rich benefits while not disrupting them with a carrier change. I believe we are the only solution out there that could help him accomplish all of this for an employer whose only goal is to keep their employees happy.
– Jennifer Revell, Senior Sales Consultant II
The Difference Card helps employers in all industries, not just healthcare employers, to save an average of over 18% off their health insurance costs, while often improving benefits and experience for employees.
To learn how much The Difference Card can save you, find a consultant in your region or request a proposal today.