SITUATION:
A for profit client with national employee base of 1,000+ employees was having challenges managing employee benefit costs, producing a competitive medical employee benefits package and communicating the value of their employee benefits package.
SOLUTION:
Exude set up a long-term employee benefits strategy to manage healthcare costs and improve the overall employee experience through an improved communication strategy. Exude introduced this client to a dedicated team which included a Employee Benefits Consultant, Underwriter, Account Manager and a Client Care Representative. Their Client Care Representative is available to all employees, 24/7 to effectively communicate and answer any employee benefits questions, explain healthcare plan options, and work directly with employee benefit carriers to resolve unexpected healthcare bills. Exude’s consultants designed a detailed employee benefits communication strategy which included open enrollment webinars, live open enrollment meetings and customized employee communications which all highlighted the value of the employee benefits plans. Finally, after analysis of employee claims experience and medical cost drivers Exude moved the client to a Self-Insured framework to manage long-term employee benefits costs.
RESULTS:
- During employee benefit plan negotiations Exude’s underwriting and analytics produced a reduction in quoted healthcare renewals of $1.3 million.
- In a little over a year since joining Exude this client has improved communication and the overall employee experience through Exude’s dedicated account team and employee benefits communication strategy.