Benefits Consulting Helps Client Retain Employees
Rochester, New York
Client Overview
A repair service company with specialized technicians was having trouble getting and retaining employees. At the same time, they were struggling with the high cost of providing a copay health plan that was 100% paid for by the company.
The Opportunity
The company had high benefits costs and was struggling to recruit and retain.
They were struggling with the high cost of providing a copay health plan that was 100% paid for by the company.
The Solution & Outcome
- They were switched to a High Deductible Health Plan
- We implemented an HRA to cover the deductible expenses for the employee
- The employer saved money on premium and recouped unused HRA funds from the employees that had low health care utilization
- The employees had lower out of pocket costs as their first dollar health care expenses were now covered by the HRA which helped with retention
The Result
The results of this study revealed a dual benefit for employers. Firstly, they experienced lower overall costs, demonstrating the financial advantages of the implemented changes. Secondly, the company saw a significant improvement in employee retention rates, indicating a positive impact on workforce stability. Additionally, our findings showcased heightened employee satisfaction with their healthcare coverage, underscoring the success of the new healthcare program in meeting the needs and preferences of the workforce.