This hospital group was slightly over 8,500 covered participants had been direct with their inforce Dental carrier for years and had no idea how much money they were leaving on the table.
RENEWAL: In the early part of the year, this group was presented with a renewal of their self-insured Dental program that would increase their overall costs for the upcoming January 1, by about $210,000.
RFP: Up to the point that Havens & Company became involved, the group had not been out to market in over five years. However, after talking with the Havens & Company team, they decided to go to market with the hope of minimizing the increase delivered to them by the incumbent carrier.
Havens & Company assured the group that were more options available now - both from a funding perspective (i.e., self-insured and fully-insured) and a plan/network design perspective.
After a thorough, detailed marketing project, Havens & Company negotiated and delivered an alternative program to the one the group had in place that allowed the group to:
RESULTS: As a result of Havens & Company's disciplined marketing approach and expert negotiation skills, the group realized savings of 20% (assumes the average claim trend of 6%):
|CARRIER||1ST YEAR SAVINGS||2ND YEAR SAVINGS||3RD YEAR SAVINGS||TOTAL INCREASE (OR SAVINGS) OVER INFORCE|
|Inforce Carrier's Renewal||n/a||n/a||n/a||$210,000|