BENEFITS COST SUBSTANTIALLY REDUCED
Responsible for selecting all new benefit plans for the entire organization. Had only six weeks to find the plans, implement the plans and enroll the entire 1300 employee population. Needed to keep services to the employees the same while reducing company benefit expense significantly.
Hired a strong broker and analyzed all particular possibilities for achieving the end result goal. Made alterations to plan design, and chose a provider that had a larger physician network and superior provider discounts. Implemented the new plan offering in collaboration with the broker.
Increased employee coverage and service while at the same time reducing the benefits percentage of payroll from 27% to 20.5% in the first year alone. This resulted in a compensation and benefits reduction of $1.6 million.