Worksite Marketing Provides Solution to Large Retailer...

Many are familiar with the benefits of offering employees worksite marketing products.  Most employees are not solicited insurance individually and depend on their employers for providing affordable, comprehensive voluntary benefit options.  However, providing for the voluntary employee benefit needs can also provide real solutions to employers.

In 2005, a large retailer (27,000 eligible employees) was looking for ways to trim dollars from their benefit budget.  Their solution way to offer a consumer driven health plan and an HSA that would save them roughly $1,000 per employee participant.  As such, the employees also saved money as their contribution to medical insurance decreased.  The employers goal was to have 10% of employees move to the consumer driven healthcare option, which would ultimately save them approximately $2.7 million dollars in their benefit budget.

Through the offering of worksite marketing products that are considered “permitted insurance” under the guidelines that govern eligibility for an HSA plan, The employers saving far exceeded their expectations.  A worksite marketing communications and enrollment firm was utilized to communicate and enroll employees in the consumer driven healthcare plan.  Through this communication, 54% of eligible employees elected to participate in the consumer driven healthcare plan, resulting in a saving of approximately  $14.6 million.  In addition, the worksite enrollment firm provided employees with benefit options that allowed them to fill the gaps created by the change with the individual employee saving from making the change.

As illustrated by this example, worksite marketing not only provided benefit options to employees, but real solutions to business needs of the employer.  Worksite marketing can help producers be pro-active to employer needs and add value and provide solutions, without adding cost to the employer’s benefit budget.  For more information on how worksite marketing can help your clients, please contact the Sales and Marketing department at Continental American.