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Market analysis team saves client from projected 50% increase in health plan costs
An Indianapolis-based employer in the industrial sector with more than 1,000 employees
The client made a switch in consultants to Apex just before the beginning of the fourth quarter and had already started the renewal negotiation process. The former consultant’s negotiated renewal rate suggested increased costs of $208,000.
Leveraging Apex’s reputation for providing reliable data and information, the market analysis team provided carrier underwriters with more information than originally was available. Apex’s Kinetiq Health team assisted by negotiating the removal of several lasers on the client’s plan. Together, they strategically negotiated a near flat increase rate with underwriters and worked toward obtaining a final stop loss proposal.
Once illustrative proposals were completed, the Apex team locked in a near flat increase for the client from the previous plan year. This negated an anticipated 50% renewal rate, totaling $208,000 in expected healthcare costs.
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