Strategizing Financial Protection Through Health Insurance
Written by Jeff Nagel
Client Overview
The client is a modest-sized telecommunications company.
The Opportunity
The client retained Employee Retention Solutions to help find a solution. The Benefits Team conducted fact-finding research and strategy meetings to help the client navigate their struggle. Based on ERS’ advice, the employer implemented a high deductible health plan and paired it with a post-deductible HRA. This allowed the employees to pay a smaller deductible and the client to provide a more generous benefit without incurring extra costs.
The Benefits Team conducted fact-finding research and strategy meetings to help the client navigate their struggle.
The Solution
The client retained Employee Retention Solutions to help find a solution. The Benefits Team conducted fact-finding research and strategy meetings to help the client navigate their struggle. Based on ERS’ advice, the employer implemented a high deductible health plan and paired it with a post-deductible HRA. This allowed the employees to pay a smaller deductible and the client to provide a more generous benefit without incurring extra costs.
The Outcome
ERS was able to find a new strategy that afforded employees financial protection from catastrophic medical events. The client only incurred expenses for a smaller number of employees who exceeded the deductible for the year and the employees did not suffer from higher premiums. The client achieved their goal of protecting their employees from medical debt and has since maintained the post-deductible HRA.