We’ve talked before on the blog about the importance of a future facing benefits strategy. Today we want to highlight a success story from one of our clients who embraced multi-year strategic planning.
This client is in the automotive industry. They had previously worked on a year to year basis with no long term strategy in place. Three years into the plan, they have already exceeded expected milestones.
At our recommendation they elected a self-funding plan with a wellness component. They received a premium refund for lower than expected claims costs in years one and two and are on track to receive another in year three. Through employee education and outreach their people are seeking the best care for the best value, often saving money on procedures and office visits.
The employees have embraced the wellness plan and have been able to use related incentives to offset some of their out of pocket expenses. Over 50% of their population is now walking regularly and reaping the benefits.
The company is reaping the benefits too because sales are up! Not only do their claims numbers align with the statistics that active people tend to be healthier, but they are also seeing an increase in productivity. Wellness drives behavior. This client attributes the sharper focus, better attitudes and consequent increase in productivity directly to the wellness program.
We believe wellness can work and our client does too. You might be saying “that could never work for us, we’re too small and can’t participate in self-funding plans.” In reality the opposite is true. This group is under 50 employees! Do not be fooled; self-funding is not only for large groups.
We are committed to finding solutions that help our clients become employers of choice.Let’s get creative with your benefits package and see what a difference three years can make.