They had been with the same group insurance plan for several years. They had a $1500 deductible and composite rating. When I was asked to provide a second opinion in 2017, I noticed the age span went from 26 to 68. Most under age 45. I changed them to age rating and took the employee’s and owner who was over 65 and switched them to Medicare. This was better coverage for them compared to group health and they just needed someone to explain it to them. With my knowledge of Medicare I made this transition very easy and comfortable for them.
We changed insurance carriers and added two new plans to the offering. I added a $4500 deductible with a $24 co pay and a $6000 deductible with a $20 co pay for those younger employee’s who rarely go to the Dr. This made it affordable for the younger people. I also shopped their group life insurance and was able to increase the guaranteed issue amount to $100,000 and the owner paid for the first $25,000. Some employee’s who had medical problems were able to get life insurance for the first time.
Total monthly savings were $1500 a month and more employee’s who added coverage who had never had it before! I also handled the entire enrollment and visited one on one with each employee to explain their options. The most important part of having insurance is understanding it completely and having a person to call when you need to use it.