Page 6 - IBA Demo

Carrier Fully Insured to IBA Self-Funded (12/15 Stop-Loss Contract) Case Study 1- Carrier Fully Insured to IBA Self-Funded(12/15 Stop-Loss Contract)
Percentage of Savings
Summary
CARRIER FULLY INSURED RENEWAL RATES
$1,872,000
IBA SELF-FUNDED YEAR 1
$1,535,040
SAVINGS TO CLIENT
$336,960
AVERAGE EMPLOYEE COUNT
179
$2,000,000 $1,800,000 $1,600,000 $1,400,000 $1,200,000 $1,000,000
$800,000 $600,000 $400,000 $200,000
$0
82%
18%
• Moved client to a Premier PPO network with greater provider access & the most aggressive claim discounts available
• Enhanced client’s pre-certi cation process to target speci c medical diagnosis
• Implemented Specialty Networks to steer and incent members to use lower cost providers with be er medical outcomes
• Introduced Pharmacy Bene t Manager options with multiple RX cost saving solutions
• Avoided Reserves, Taxes, Retention and Overhead of a fully insured carrier
• Removed costly state mandated bene ts, and followed ERISA based plan document
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CARRIER FULLY INSURED RENEWAL RATES IBA SELF-FUNDED YEAR 1
Year 1
Year 2
Year 3
Total
Fully Insured Premiums increased by 12% (assumed rate increase)
$1,872,000
$2,096,640
$2,348,237
Self-Funded with IBA
$1,535,040
$1,673,194
$1,823,781
Savings to Client and Employees
$336,690
$423,446
$524,456
$1,284,592
CASE STUDY