Lee Ammer, CEO and founder of OG Benefits met with the owner of a fast-growing suburban company in the cable installation business early in 2017. In one year they grew from 50 employees to over 80. The owner really wanted to offer a retirement plan, but found a startup plan would cost him an additional $100,000 a year. The owner was hesitant to spend the additional funds. He was also reluctant to change brokers since he felt that all insurance would be essentially the same price. Lee took a current census and a copy of the current medical plan to analyze and shop the market. Within days, she met with the owner again. Her proposal
- OG Benefits would take over the Employee Benefits program.
- Offering a different, more affordable medical program while reducing the company medical spend overall.
- Reallocating some of the medical savings to fund more than half of 401K plan matching funds.
After a detailed presentation to the owner and the CFO, the decision to change brokers was made. Within 3 months’ time employee communications and enrollment of medical, dental, vision, life insurance, enhanced benefit programs and 401K were selected.
In another instance, an employer received a 60% increase in their medical plan rates, with little to no choice given by the current broker. OG Benefits met with the employer. Then returned to show a regional carrier bid that offered cost-neutral plans to the in-force carrier as well as more affordable co-pays. The decision was made to change brokers and change medical carriers saving the employer and employee from a large increase in premiums and deductibles.
From the beginning, OG Benefits does an analysis of the employer’s needs and the workforce, then shops the market to find the right fit of carriers and plans. Employers think they have to wait until their annual renewal. That’s just not the case.