Compassionate, Caring Service – 150-Life School District
The Prom Prince
When a local school district was self-funded, its insurance committee had some control over paying claims outside the insurance contract. Good stewards of the plan, the committee took this responsibility seriously.
A 16-year old boy suffered from a sweating disorder. He would sweat so much from his hands and his feet that he could not even use a computer. Imagine what his social life was like. The teasing and isolation were devastating. A new surgery came out that doctors hoped to correct his hands. It involved deflating his lungs and snipping a nerve behind them. The cost was estimated at $50,000 with a two-day stay in the hospital. The insurance carrier at first determined the surgery was experimental and would not cover it.
The insurance committee wanted to help the teenager and wanted to approve the surgery out of contract. Laurie Miller and her team did national research to gather data for the insurance company and in the end gained their approval, so the company would not be at risk if something did go wrong.
This was fortuitous, as the young man developed complications – doctors could not re-inflate one of his lungs. He ended up with a $100,000 bill and double the hospital stay but, in the end, the surgery not only corrected his hands, but it also corrected his feet and that next spring he was elected to Prom Court.
Financial Impact Insurance Negotiations
Aerospace Company– 1/1/2018 Renewal (Note – 2HB saved this company another $105,000 for it’s January 1, 2019, renewal along with a two-year Medical rate guarantee)
An Aerospace company engaged 2HB in August 2017 for its 1/1/2018 renewal. Ramping up quickly, 2HB installed an online enrollment system, assisted HR with assimilating an acquisition which was twice the size of the current workforce and negotiated an employee benefits package that retained all in-force benefit levels plus added additional coverages. The HR Manager and her 101 employees were very pleased with the financial results as well as the improved, personalized customer service.
|Line of Coverage||Savings||Comments|
|Medical||$227,322||Improved Benefits & Network 2-Year Rate Guarantee|
|Dental & Vision||$5,000||Improved Benefits 2-Year Rate Guarantee – Dental 4-Year Rate Guarantee – Vision|
|Group Life & Disability||$1,500||3-Year Rate Guarantee|
250-Life Manufacturing Company
A 250-life manufacturing company engaged 2HB in February 2018 for its 7/1/2018 renewal. Ramping up quickly, 2HB installed an online enrollment system, assisted HR with one-on-one enrollments for its mostly blue-collar workforce and negotiated an employee benefits package that retained all in-force benefit levels plus added additional coverages. Enrollment materials and one-on-one meetings were provided in both English and Spanish to ensure employee communication was as impactful as possible. The Company and it’s 247 employees were very pleased with the financial results as well as the improved, personalized customer service.
|Line of Coverage||Savings||Comments|
|Medical||$188,000||Retained Current Rich Benefit Levels|
|Group Life & AD&D||$2,000 increase||The company repurposes some of its savings in other lines to improve life coverage to $50,000
3-Year Rate Guarantee
|Group Disability||$4,000||3-Year Rate Guarantee|
Self-Insurance Acumen – 60-life Employer
A Rockford-based manufacturer engaged 2HB in mid-May 2018. As part of our check-listed, color-coded client immersion process, Laurie Miller obtained and analyzed all the client’s in-force contracts. Within 24-hours Ms. Miller determined that this 60-life, the self-funded group did not actually have stop-loss coverage in place. The former broker did not finish the application process for an 8/1/2017 effective date. Facing the dangers of Memorial Day weekend, which is the client’s biggest sports tournament event, Ms. Miller worked overtime to obtain stop loss for the client. Coverage was in place the Friday before Memorial Day weekend which allowed the client to have peace of mind in the event of a large claim. In addition, Ms. Miller recovered $133,000 in banked, but unprocessed stop loss premium from the third-party administrator, worked with the client to finalize a summary plan description and worked with the TPA to correct the claims that were being paid incorrectly. This client is very pleased with the rapid response.
Innovative Thinking – Retirement Readiness Seminars
Maximizing their retirement is something that a person needs to think about long in advance of the event. To lessen the anxiety and help our school clients, 2HB has developed a Retirement Readiness seminar featuring experts on Social Security and Medicare. The response has been amazing, and both the employees and their employers have been grateful for the information.