Attracting Top Talent
The Challenge: A water district with average wages currently offers a rich benefits package with employer contribution to attract top labor. The traditional HSA plan was heavily funded. Unfortunately, the yearly double-digit increases with their medical carrier was making their strategy unsustainable.
Covering Out of State Employees
The Challenge: Escalating fully-insured premiums for the out of state employees were driving double-digit increases for the company, requiring them to continually revise the plan and increase employee contribution requirements. In addition, regional Kaiser and regional HMO enrollment traditional market options were not available nor cost-effective.
Employee Claims on the Rise
The Challenge An Architectural firm had two Fully-Insured medical plans with an above-average employer contribution to attract top talent. Unfortunately, the yearly double-digit increases with their medical carrier due to high medical claims, were making their strategy unsustainable.
Enhancing a Healthcare Captive
The Challenge A non-profit multi-state health system with 35,000 employees wanted to conduct a feasibility study to determine if captive funding could generate employee benefit cost strategies, enhance benefits, improve operational performance and increase employee participation.
Equipment Deal Needed Alignment
The Challenge An equipment dealer with twenty-five branches in nine states had two traditional medical plans and one HSA plan. Unfortunately, the company’s non-integrated, partially self-funded medical plan was demonstrative of a misalignment of economic objectives between the employer and employees.
Experts in Detail
The Challenge: A 12,000 employee, the multi-state company came to Alera Group looking to increase their benefit offerings while minimizing risks to its parent company and was particularly interested in creative solutions that might not be in the typical insurance captives. With such a large company and an enormous number of national, state, and local government healthcare regulations to consider, the task of developing a creative captive solution required a great amount of experience and attention to detail to ensure compliance with all governing bodies.
The Challenge A health and performance improvement firm had 39 branches in 14 states, with 10 medical plan designs from three insurance companies. The firm had contrasting contribution strategies regarding consumer-directed health plans for two of their legacy organizations with vastly different employee demographics.
Industrial Machinery Company with Multiple Branches
The Challenge An industrial machinery company with 10 branches in 3 states had 7 fully insured medical plans between 4 different insurance companies. The company was suffering unsustainable, double-digit annual renewal increases in addition to a misalignment of economic objectives between the employer and employees.
The Challenge: Alera Group was the benefits broker for an employer that was working with two affiliated health insurance companies, “Company A” and “Company B”; to provide health coverage for their employees. One day, an Alera Group claims manager received a frantic phone call from a member who had just been informed that Company B denied the insurance claim for a life-saving organ transplant surgery that she was scheduled to undergo in four days. The surgery cost well over $200,000, meaning the member would have to go into a crippling amount of debt to receive the operation.
The Challenge: One of the largest and most well-respected non-profit organization in Arizona (with 75 locations across the state) was experiencing employee dissatisfaction with the cost and quality of their current benefits program. Additionally, the organization had been receiving inaccurate and inconsistent plan financial data and compliance advice. This combination of factors lead management to lose all confidence in their overall health plan design and strategy.
Start-Up Benefits for a Start-Up
The Challenge: A start-up, national credit consulting company had worked with Alera Group to develop and implement their first-ever employee health benefits offering, securing a contract with a major national health insurance company. However, the year-over-year renewal rates increased drastically and the owners became concerned that they couldn’t afford their new benefits and would have to discontinue the offering. Because the company was rapidly growing and onboarding employees, they were practically cost-sensitive but also don’t want to lose the newly implemented benefits.
Too Big To Protect
The Challenge: The board of directors of a 400-unit condominium building in Southern California had been required to issue an earthquake insurance coverage claim payout that was prohibitively expensive. Through that process, they learned that their coverages were far more extensive and costly than they had realized: a 20% deductible that would leave condo unit owners with a massive bill if an earthquake struck. Additionally, there are only three insurance carriers willing to take on the challenge of covering a property valued at more than $75 million; this property was valued at $80 million.
The Challenge The firm was paying $500 per month towards the cost of employee-only coverage with a private exchange (CalChoice) and offered employer-paid life and LTD. Dental and vision were voluntary programs. Employees were complaining about the quality of benefits and employer contributions which was impacting the company’s ability to retain existing employees as well as attract new employees since they were growing at a rapid pace.