Case Study for a broadcasting company (68 people covered)

Total Monthly Savings

$4,181.78*

Total Annual Savings

$50,181.36*

The example below shows a 68 person broadcasting company that currently offers their employees a $2,000 deductible BC/BS plan. At renewal, the group received a 19% increase, raising their $400,000 annual premium to $477,980.76. To save the employer premium and maintain benefits, the broker recommended changing to an affordable High Deductible Major Medical, then adding our group supplemental insurance plan to fill the deductible and cost sharing holes.

The Result? A guaranteed annual savings of over $50,000. The employer saved money. The employees maintained the same deductible. And the agent earned commission on both plans — the major medical and the Premium Saver.

Current Plan

Deductible Coinsurance % Coinsurance Out-of-Pocket Doctor Visit Co-Pay Drug Card
Co-Pay
Drug Deductible
BC/BS Plan $2,000 70/30% $2,000 $25/50 $8/35/50/85 $0
  # of Employees Medical Rates Total Monthly
Premium*
Total Annual Premium
Employee 59 $422.14 $24,906.26 $298,875.12
Employee & Spouse 4 $864.54 $3,458.16 $41,497.92
EE + Children 3 $799.11 $2,397.33 $28,767.96
Family 2 $1,295.54 $2,591.08 $31,092.96
Totals 68 $3,381.33 $33,352.83 $400,233.96

* Total Monthly Premium = Number of Employees * Medical Rates

Renewal Plan

Deductible Coinsurance % Coinsurance Out-of-Pocket Doctor Visit Co-Pay Drug Card
Co-Pay
Drug Deductible
BC/BS Plan $2,000 70/30% $2,000 $25/50 $8/35/50/85 $0
  # of Employees Medical Rates Total Monthly
Premium*
Total Annual Premium
Employee 59 $504.14 $29,744.26 $356,931.12
Employee & Spouse 4 $1,032.47 $4,129.88 $49,558.56
EE + Children 3 $954.33 $2,862.99 $34,355.88
Family 2 $1,547.30 $3,094.60 $37,135.20
Totals 68 $4,038.24 $39,831.73 $477,980.76

* Total Monthly Premium = Number of Employees * Medical Rates

Premium Saver Plan

  Deductible Coinsurance % Coinsurance Out-of-Pocket Doctor Visit Co-Pay Drug Card
Co-Pay
Drug Deductible
BC/BS Plan $5,000 60/40% $1,350 $35/70 $8/35/50/85 $0
Premium Saver $2,000 60/40% $1,350      
Combined Plan Totals $2,000 60/40% $1,350 $35/70 $8/35/50/85 $0

* $3,000 Benefit after the insured meets a $2,000 deductible and 40% coinsurance

Premium Saver Monthly Premium (Bronze Plan + Premium Saver)

  # of Employees Medical Rates Premium Saver Rates Combined Rates Total Monthly
Premium
Total Annual Premium
Employee 59 $409.85 $41.44 $451.29 $26,626.11 $319,513.32
Employee & Spouse 4 $839.37 $88.77 $928.14 $3,712.56 $44,550.72
EE + Children 3 $775.84 $75.52 $851.36 $2,554.08 $30,648.96
Family 2 $1,257.82 $120.78 $1,378.60 $2,757.20 $33,086.40
Totals 68 $3,282.88 $326.51 $3,609.39 $35,649.95 $427,799.40
Total Monthly Savings $4,181.78*
Total Annual Savings $50,181.36*

* Rates and savings will vary by group. This is an example.