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.
Your 2023 Renewal
Could You Have Done Better?
Apex has been able to achieve virtually flat renewals for our clients, on average, for the past three years.
Through a unique formula of people, processes and technology, we save our clients more than any other Indiana-based benefits advisory firm.
If you’re not satisfied with your most recent renewal or the service from your broker, let’s talk about how Apex can help.
Is your broker doing all they can to ensure you're getting the best renewal? Use this checklist as a helpful guide.
Healthy Renewal Checklist
How Much Could You be Saving?
Our Peer Review Service
A peer review assesses specific opportunities within your existing plan to see if there are areas for improvement and innovative strategies that your current consultant may have simply failed to identify, or may not have the capability or expertise to deploy.
Having a peer review conducted does not require you to make a consultant change. It can, however, provide you and your employees and plan members with the peace of mind that you are doing your very best to leverage a finite budget to deliver the best benefits program for the greatest return.
What the peer review analyzes:
- Your organization’s existing benefit program design
- Your recent financial, medical and pharmacy claims data
Peer reviews typically result in two types of findings:
- Areas of your current program that are performing well
- Potential opportunities to substantially reduce costs and/or improve the quality and risk profile of your program
We save you more so you can do more:
Reinvest savings in employee development
Hire more employees
Increase salaries to retain top talent
Provide richer benefits
Reallocate to fund innovation
Invest in growing your organization
Increase your competitive strength
Increase profit margin
Stories of Savings
We have the expertise to save our clients more on medical costs than any other Indiana benefits advisory firm. Just look at the proof points in our case studies.
- March 28, 2023
Peer Review Reduces PEPM Cost by 42% for Global Consultant
A holistic peer review identifies significant savings and opportunities to reduce administrative burden for a small HR team serving 500 employees around the globe. Basic broker services were replaced with a strategic partnership that created deep, sustainable cost savings.
- September 20, 2022
Large School System Builds $14.3M Reserve in Five Years
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
$2.4M in Rx Cost Savings Identified for Financial Sector Client
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
Client Realizes Nearly $3M in Rx Savings in One Year
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.
- March 23, 2022
Stop Loss and Medical Plan, Rx Savings Result in Richer Benefits
MSD of Wayne Township was dedicated to employee health and wellness prior to engaging with Apex Benefits and its Kinetiq Health team in late 2019. While mostly satisfied with their wellness program, the school system was looking for opportunities to …
- January 20, 2022
School System Partners with Apex to Impact Employee Well-being, Realize Cost Savings
MSD of Wayne Township was dedicated to employee health and wellness prior to engaging with Apex Benefits and its Kinetiq Health team in late 2019. While mostly satisfied with their wellness program, the school system was looking for opportunities to …
- December 16, 2021
Renewal Negotiations Net $200K Savings for Large Employer
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.
- November 1, 2021
Apex Rx Expertise Helps Client Cut Spend By More Than a Third
The savings found were substantial for the client. After discounts, rebates and fees the annual identified pharmacy savings were $110,156 for the client. Apex also discovered additional savings through clinical and specialty drugs of another $100,581. Those combined savings cut …
- October 18, 2021
Peer Review Nets Nearly $1 Million in Identified Savings
The client was unsatisfied with the customer service and level of innovation provided by their benefits advisor. Apex was engaged to complete a Peer Review to identify immediate and future plan savings with minimal disruption to plan members.
Related Articles
- October 10, 2020
Cost Savings Opportunities to Improve Organizational Health
Our team of experts has identified many near-term and long-term opportunities for companies to consider in order to generate cost savings or create greater operational efficiencies.
April 8, 2020Cost Savings Strategies for Employers
Apex Benefits and Axiom Human Resource Solutions present “Rapid Response”, a breakdown of legislative and compliance issues affecting Indiana employers and workers.
- August 10, 2022
$2.4M in Rx Cost Savings Identified for Financial Sector Client
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 …
