Case Studies

Bryson is known for creating positive results for clients with a focus on cost savings and insurance as a strategic advantage.

The high turnover and defragmented corporate structure made it difficult to control costs and create efficiencies in employee engagement and administrative processes.

Medical Insurance Mismanagement

Set it and Forget it Plan Turned into Major Cost Liability

CLIENT:
Large Retail (portfolio company)

SCENARIO:
The client was experiencing higher than average turnover which led to higher training and medical insurance costs.

DISCOVERY:
The high turnover and defragmented corporate structure made it difficult to control costs and create efficiencies in employee engagement and administrative processes.

THE GOAL:
Engage employees, improve benefits, and reduce costs. We provided a benchmarking analysis to align the reconfigured company with fewer employees to same-size peers in the industry and region. We conducted a bidding process to identify carriers who could provide competitive pricing and support, and we identified processes that could be outsourced reliably and cost effectively. Additionally, we performed a dependent audit where we found many ineligible dependents driving up claims and costs. Finally, we implemented a wellness system that incorporated financial and health wellness to help all of the employees become more engaged in their employee benefits program.

SOLUTION:
We provided a benchmarking analysis to align the reconfigured company with fewer employees to same-size peers in the industry and region. We conducted a bidding process to identify carriers who could provide competitive pricing and support, and we identified processes that could be outsourced reliably and cost effectively. Additionally, we performed a dependent audit where we found many ineligible dependents driving up claims and costs. Finally, we implemented a wellness system that incorporated financial and health wellness to help all of the employees become more engaged in their employee benefits program.

OUTCOME:
Bryson generated enough savings to:

• Offset the administrative costs of an online system,
• Lower the medical loss ratio from 120% to 78%, which created a zero increase in year two,
• Lower turnover, and
• Allow increased contributions to retirement plan for key executives.