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Company Gains a Competitive Advantage Through Partially Self-funded Insurance
The Challenge
The Challenge
Break down health insurance barriers

A New York-based financial services firm that employs some of the world’s brightest young minds from the worlds of mathematics, computer science, statistics, physics, and more was looking to enhance employee productivity through better healthcare. The company competes with major corporations to recruit employees from some of the country’s top schools and has built an exemplary corporate culture onsite restaurants, gyms, and other amenities) that encourages productivity.

The firm found that traditional fully funded healthcare plans didn’t fit with this culture. It needed solutions that were flexible, easy to use, and didn’t get in the way of employee productivity. Company management wanted their employees to focus on work, not overcoming the barriers (dealing with hard to work with carriers, navigating complicated networks and coverage plans, and more) typically associated with health insurance.

The firm looked at partially self-funded insurance alternatives to help them:

  • Attract top-tier talent through health insurance benefits
  • Eliminate the number of hours employees waste talking to insurance carriers so they could focus on their jobs
  • Provide employees with great coverage options
The Solution
The Solution
EVHC’s flexible partially self-funded plans

The firm turned to EVHC, which offers highly customized and flexible partially self-funded insurance plans that allow employees to enjoy unparalleled coverage while providing companies with exceptional insurance benefits. EVHC provided the organization with:

  • A customizable plan that allows employees to use both in-network and out-of-network providers at little cost
  • Access to three of the nation’s four largest provider networks
  • 24/7 concierge-level customer service, including member education programs
  • Low individual deductibles
  • Greater price transparency
  • An easy-to-use HRIS platform for fast access to health insurance information, improving productivity and time savings
  • Insights into employee wellness across four categories (colorectal cancer screening, cervical cancer screening, flu vaccination, and breast cancer screening)
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The Results
Happier employees—and a competitive advantage

The firm is now able to offer new and current employees with no hassle health insurance coverage that fits their culture and employees’ lifestyles. Many of the company’s employees are young, fresh out of college, and working hard at jobs they love. They don’t have time to worry about the hoops a fully funded provider will put them through. Now, they don’t have to. They can focus on being productive, driving business for the company, staying healthy, and enjoying the complimentary video games (and the firm’s many other great perks).

Recent Case Studies

EVHC Helps Company Save More Than $500,000
EVHC Helps Company Save More Than $500,000

Partially self-funded insurance reduces costs by 28% with no coverage loss Save without Sacrifice Each year, health insurance premiums go up, forcing employers to shop around and, usually, ending up right back at square one. Whatever they do, companies end up paying more than they should because the alternative—reducing benefits or limiting network access—is simply not an option. Tired of the costs and headaches associated with fully insured options, one company began to explore the benefits of partially self-funded insurance and how it could help them: -Keep their margins (the difference between claims liability and actuarially expected claims) -Cut pharmacy spending -Retain access to the nation’s largest provider networks “We needed a solution that allowed us to save money while still providing our employees with access to the best provider networks. We weren’t getting that through traditional fully-funded insurance.” EVHC’s Partially Self-funded Insurance The company turned to EVHC, which offers custom plan designs that help companies save money without losing coverage. Through EVHC, the company had: -Access to three of the nation’s four largest provider networks -24/7 concierge-level customer service, including member education programs -Flexible plan designs -Greater price transparency “EVHC was easy to work with and a true partner. They were there every step of the way, from implementation to enrollment and beyond.” Thousands Saved, No Coverage Lost In just one year, the company experienced:

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EVHC Steers Automotive Company to $1.4 Million in Savings
EVHC Steers Automotive Company to $1.4 Million in Savings

0 rate increases, great coverage, and millions of dollars saved result in a win for car dealership and its employees Drive Costs Down, Maintain Great Coverage Tired of the skyrocketing costs and headaches associated with their fully insured carrier, one of the Southeast’s largest car dealerships began to explore the benefits of partially self-funded insurance. This Georgia-based automotive company has 28 dealerships and more than 700 employees. They were paying a fully insured carrier millions of dollars per year—and the carrier planned to increase those annual costs by 38%. They were also struggling to manage plans across dealerships, all of which had their own unique coverage. This automotive company looked at partially self-funded insurance alternatives to help them: - Keep their margins (the difference between claims liability and actuarially expected claims), resulting in millions in savings - Consolidate insurance coverage across all dealerships - Retain access to the nation’s largest provider networks - Provide employees with even better coverage options “When the carrier told us about their proposed rate increase, I was shocked. How were we supposed to be able to pay those margins? We desperately needed an alternative that would provide our employees with great care without breaking the bank.” EVHC’s Partially Self-funded Insurance This automotive company turned to EVHC, which offers customized partially self-funded insurance plans that help companies save money without losing coverage. EVHC provided them with: -The ability to only pay for the actual cost of employees’ claims -Low individual deductibles -Access to three of the nation’s four largest provider networks -24/7 concierge-level customer service, including member education programs -Flexible plan designs, including home healthcare and diabetes treatment options -Greater price transparency For the first time ever our premiums remained flat year-over-year. That, combined with millions in overall savings, great customer care, and even better benefits for our employees, has made our relationship with EVHC a winner. Millions in Savings, Better Coverage In just the first year, this automotive company experienced: - A consolidated insurance plan covering 700+ employees across 28 dealerships for easier administration and better continuity - $1.4 Million in Savings - 100% of employees covered at no risk to the company EVHC is also creating a customized diabetes management program with partner Livongo that will allow diabetic employees to enjoy cost savings, direct delivery of supplies, and more, and helping this automotive company save money on internationally-sourced prescription drugs.

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