Reducing Costs and Maintaining Coverage - Like many clients, this client has been looking for different strategies to save costs on their employee benefits without reducing the level of coverage provide, while maintaining the bottom line. On an annual basis, we market their employee benefits and negotiate on their behalf. During their renewal last year, they experienced a 22% increase and some large claims.
At the end of the negotiations, they were able to move their medical to another healthcare provider with a significantly richer benefit, and they only had approximately a 6% increase. By changing carriers on the dental, we were able to save approximately 11% on their dental rates, while enhancing their level of benefits and increasing their network providers. We have a great working relationship with this client and communicated on a weekly basis during the transition to ensure a smooth plan change.
Successful transitions like this come from our comprehensive due diligence process that involve both qualitative and quantitative analysis of providers coupled with effective leverage of the Health and Dental insurance marketplace. 401(K) transition
As recent as last year, this company was exploring the option of leaving a large conglomerate for a company of Bryson Financial Group's size. Through an extensive due diligence process, structured timelines and protocols, and intensive attention, Bryson Financial Group was retained and achieved its objectives to deliver a smooth and effective transition from one plan provider to another. In fact, in the post transition interview, a Vice President described the transfer , "In my career, I have never had a better transition experience."
An employee was on his employer's insurance and did not fully understand his insurance plan. He was admitted into the hospital and was billed the entire amount. He assumed that his insurance was going to take care of it, and eventually the claim was sent to collections. At this point, the HR Assistant informed us that they had an employee that was having issues with the insurance. After researching the issue and talking to the employee, we were able to get the claim paid by the insurance company and the employee merely owed the hospital co-pay for the admission. The employee was so happy, he began to cry thanking us for helping him.