1. A
LOWER COSTS,
HIGHER TOUCH:
ONE COMPANY’S JOURNEY
C A S E S T U D Y
SPECIAL SPONSORED SECTION
AS THE MULTI-GENERATIONAL and mobile workforce grows, employers, and
the benefits industry are responding accordingly. Employers are re-evaluating
benefits and seeking ways to effectively engage employees while keeping a
watchful eye on their benefits budget. Many seek the expertise and guidance of
their consultants, carriers, and enrollment firms in designing and communicating
desirable benefits packages that protect employee health and finances.
This was the case at a leading national
provider of health diagnostic services with
a mobile, multi-generational workforce.
The company faced a projected 13%
increase in 2016 benefit costs. In response,
the company worked with their benefit
consultant, Lockton Companies, to develop
a solution that would help mitigate rate
increases and maximize the offer.
The result: A revamped portfolio of benefit
offerings which included a new lower cost
health plan and an array of voluntary benefits.
Educating a Mobile Workforce
Understanding the need to educate
employees about the new options, the
company and Lockton partnered with
Winston Benefits, a national benefits
administration and enrollment company,
to provide a comprehensive, high-touch
benefit counselor-driven enrollment
process. The company also expanded
their existing relationship with MetLife,
adding voluntary accident, critical illness
and hospital indemnity benefits.
“Our client targeted a 20% migration
into the more cost-effective plan and
new benefits portfolio. It was a perfect
opportunity to help them achieve their
goals through coordinated collaboration
with MetLife and tapping into Winston’s
enrollment capabilities to effectively engage
the employees,” explained Dave Griffin,
Vice President, Lockton Companies.
Achieving Objectives with a
Collaborative Enrollment Solution
Lockton, Winston and MetLife worked closely
with the customer’s benefits team to develop a
culture-specific communication strategy that
would effectively educate employees on the
benefit changes and deadlines to enroll them.
“It was seamless. Everyone worked together
to serve as an extension of our HR team.
The educational tools and daily and weekly
communications ensured employees were
reached and engaged,” said the VP of
Compensation and Benefits at the company.
“We used an apples-to-apples comparison
on different plans, which helped employees
understand how the benefits would meet their
specific needs,” added Curry Bradley, Vice
President of Enrollment Services at Winston.
During enrollment, employees had the
opportunity to speak with a Winston
benefits consultant in person or via phone.
During the active/mandatory enrollment
period employees spent an average of 25
minutes with counselors and more than
3,600 enrollments were completed.
“We went through a questionnaire with each
employee to help us understand their family
dynamics, financial and health history and
goals,” explained Bradley. “This data-driven
approach allowed us to build a profile of
their needs and make recommendations
for coverage that would help provide the
financial security they were seeking.”
Mike Collins, Regional Vice President of
Sales at MetLife added, “We were able to
provide simple, customer-focused solutions
that balanced cost with employee needs —
ones that worked well to complement the
customer’s holistic benefits strategy.”
This high engagement model for benefit
enrollment allowed the employer to
dramatically exceed its goals and see:
1. 36% migration to the low cost
medical plan versus the 20% goal
— 80% higher than planned
2. a projected annual savings of
more than $3 million compared
to the original budget
3. no additional out-of-pocket
increases for employees
4. 40% participation in the new voluntary
benefits, with more than half enrolled
in more than one offering
5. outsourced billing of the voluntary
products to Winston to ease
administrative burden
6. employees were satisfied or
extremely satisfied with their
benefits and enrollment process
“The communications and benefit counseling
sessions helped employees understand
their needs and make confident decisions.
This year we will continue to reinforce that
message with every employee through our
partners,” said the VP of Compensation
and Benefits at the company.
Reflecting upon the accomplishments
and upcoming enrollment, Dave Griffin
from Lockton stated, “We’ve been very
fortunate to have great partners in MetLife
and Winston, who provide new and
innovative solutions delivering true value
for our clients and their employees.”
September 21, 2016