|
|
 |
|
|
Why Self-Fund?
Why MVP Select Care?
What to Look for in a TPA
Managing the Risks of Self-Funding
Let's Talk! How About a Proposal?
True Stories
True Stories
Read true stories about three large
New York State companies that self-funded with MVP Select Care.
Learn how we helped them significantly cut their health care costs, while
meeting their specific needs and increasing employee satisfaction. Then
contact us to
learn what we can do for your clients.
"Company A"
- Cut health insurance costs by almost 20%
- Satisfied 1,500 employees and several unions
- Saved more than $850,000 in the first 18 months
A regional public utility was tangled up in health care. With more than 1,500 employees throughout 10
New York State counties, and strict union requirements, the company was juggling six health plans and facing
another double digit increase from its traditional indemnity plan. To make matters worse, those employees
enrolled in the indemnity plan represented just 43 percent of all employees but were consuming more than
60 percent of the company’s total health premium dollars. They needed to restructure and reduce costs...fast.
We introduced them to MVP Select Care. We discussed the many advantages of self-insuring with us. We worked
with them to develop a Point-of-Service (POS) alternative to their indemnity plan. And we demonstrated
that with our large proprietary network, we were able to provide physician and facility access to 99.6% of
their population, making their employees, the unions and everybody happy.
Just 18 months after the plan’s launch, the company’s average monthly cost of health insurance
dropped from $356 to $288 per employee. And, they simplified administration by changing from six health
plans to three.
"Company B"
- Lowered health insurance costs by almost 32%
- Rescued its out-of-control indemnity plan
- Saved more than $235,000 in the first 12 months
A state-regulated wagering corporation recently self-insured their way into a spending tailspin. After years of liberal
funding and generous benefit negotiations from their self-funded indemnity plan, their health insurance costs were out
of control becoming one of the company’s largest overhead expenses. Add in stringent union requirements and a geographic
hurdle of more than 500 employees scattered across 17 New York State counties...and they had a real problem. Even health
care consultants were stumped.
Enter MVP Select Care. We met with the company and examined their program. We identified
key problems with their current plan including a TPA that had no experience in provider contracting and
a utilization review service that offered no measurable results. We described the many benefits of partnering
with us, including our large provider network (which satisfied employees and unions alike). They made the switch.
MVP reduced their average monthly health insurance costs from $396 to $269 per employee. Even better,
by changing administrators to a true managed care organization, they lowered their stop loss rates and aggregate
claim factors.
"Company C"
- Cut health insurance costs by 27%
- Improved satisfaction among its 3,500 employees
- Reduced annual costs by $2,000,000 while covering 600 more employees
A leading retail food chain–known for providing quality products–was not receiving the same level of
quality from their out-of-state TPA. The TPA managed the largest of the chain’s four health plans: a self-funded
PPO serving 3,500 employees. While the TPA’s administrative costs were low, it was unfortunately a case
of "you get what you pay for." Poor plan management, ineffective cost containment and a thin provider network
all added up to escalating medical expenses...and unhappy employees. It was time for a change to a local ASO,
with a proven record of cost-savings and quality. And a name that their employees knew and trusted.
They switched to MVP Select Care. Through more efficient management and cost containment, we immediately
brought their self-funded plans under control. Because of our large provider network and
our reputation as a nationally-accredited managed care organization, there was also a marked improvement
in employee satisfaction. Bottom line: The chain reduced its annual health care costs from $14 million to
$12 million while increasing the number of employees in its self-insured plans from 3,500 to 4,100.
That's an average cost-per-employee saving of 27%.
Back To Top
|
|
|
