As a team of benefits strategists, we work hard every day to make sure we’re exceeding client expectations and providing the most innovative and value-generating plan designs and advisory services.
An Indianapolis-based education employer with more than 5,400 covered lives engaged Apex as a strategic advisor during its 2017 renewal.
Under their prior advisor’s tenure, the client’s rates were increasing at an astounding rate.
After renegotiating 2017 renewal terms with the client’s carrier, Apex was able to secure concessions totaling $4.3 million related to plan years 2016 and 2017. For 2018, Apex negotiated a reduction to overall costs by 10 percent with no change in benefits and offered additional plan options and employer contributions to employees’ health savings accounts.
In 2019, a zero percent increase was negotiated with benefit enhancements to expand the number of preventative prescription medications. A premium refund arrangement was negotiated with return of $2 million for the plan year.
The client was moved to a self-funding plan in 2020 resulting in savings of $3 million. In 2021, $3 million in savings was realized as a result of the previous year’s self-funding decision.
After analyzing the benefit plan design and clinic ROI, the team determined the clinic was not in the best interest of this client. Our Kinetiq Health team developed programs to replace the clinic and deliver those at more than 50 client locations.
A more accessible clinic arrangement was brought back to provide priority scheduling, Saturday hours and urgent care access — at one-third the original clinic cost.
Current programming includes two health coaches trained in exercise science and a licensed clinical social worker.
Onsite engagement also includes health challenges, screenings, flu shots, access to telemedicine, and lunch and learn educational programs.
More Case Studies
- September 20, 2022
Prior to Apex becoming the strategic advisor, this client also had a near-site clinic available to all members on the medical plan. After a thorough review of clinic data, our team found that the cost per visit exceeded $225 due …
- August 10, 2022
Working closely with the insurance company’s reinsurance and pharmacy teams, the Kinetiq Health team came up with a solution to purchase the treatment directly from the manufacturer at actual cost while the hospital continued administering the dependent’s infusion therapy each …
- July 19, 2022
After reviewing the language of the pharmacy benefit management (PBM) contract that determined the terms and cost variables, savings opportunities were identified without changing any benefits to employees.