When we began consulting this commercial door manufacturer, our analysis projected upwards of $100,000 in unnecessary healthcare expenses with their existing Oxford plan. Our strategies were put in place for 2016 and although they saw immediate cost reduction, it wasn’t until our end of year review that the final savings was tallied up for a total spend reduction of $200,000.
Here are some key points from this case study.
Before we were brought in, Oxford was about to renew at a 7% increase.
Our consultants architected a self-funded plan with a max cost of 2% increase and lower deductibles.
When calculating total savings based on reduced premiums, unused claims refund and negotiated provider pricing, this group saved over $200,000 for 2016