Healthcare costs kept at half the national average while growing from 20 to 80 employees
Per Employee Per Year (PEPY) with Bywater preferred bundle
In prescription drug savings by sourcing through SHARx
Savings in year 1 vs.
fully-insured premium
A specialty manufacturer of machine components for the nuclear power industry didn’t originally offer health benefits to employees. A new president introduced a fully insured health plan, but five years later, he was fed up with the lack of options and inability to control expenses. As the company began to grow significantly through acquisition, the leadership team needed a solution that offered more flexibility.
In partnership with their advisor, the company identified Roundstone as the right partner for their self-funding journey. Roundstone offered the transparency, control, and expertise they needed. The initial change was seamless for the company’s employees, as they were able to mirror their existing plan. To maximize savings, the company president chose the preferred bundle with Bywater as their third-party administrator (TPA).
Specifically, Bywater offered:
Over the next couple years, the company began to implement cost saving initiatives identified by the Roundstone and Bywater teams, based on quarterly reviews of their claims data.
Specifically, they implemented:
Sourcing solution for high-cost prescription drugs
Funding support for high-cost conditions
We’re helping businesses change self-funded health insurance for the better. Contact our team to get started on a quote today.
