Case Study :: Continuity of Ancillary Benefits

Challenge:

International manufacturers wanted to provide continuity in their ancillary benefits program for all employees, so when international employees came to the U.S. and vice versa, ancillary benefits would mirror what they had in their business homeland. These benefits included the following kinds of insurance: Life, Accidental Death and Dismemberment, Short-Term Disability, and Long-Term Disability.

What We Did:

• Performed a comprehensive review of the ancillary carrier marketplace to determine which of our insurance partners would be able to meet those needs.
• Evaluated the products and capabilities of each carrier to ensure their programs were strong enough, and that they included the benefit features that were required.
• Analyzed our client's current in-force ancillary plan designs and developed a universal plan design for each product that encompassed the client's international needs.
• Determined the best markets to target, and provided creative problem solving techniques while working with insurance companies to meet our client's benefit and administrative needs.
• Prepared a detailed cost-benefit analysis comparing the current programs to the universal plan designs we developed with our markets.

Our Recommendations:

• Choose the program that provided our client's employees with the most comprehensive benefits plan features at the most reasonable cost.
• Design a communications campaign to communicate the new benefit program to employees.

Results:

• The new benefit program was seamlessly installed.
• Employees were brought up-to-date before the plan was launched, easing HR strain.
• Our client was able to accomplish their objectives to provide an ancillary benefit program where the benefits followed the employee regardless of their country of employment.
• We were able to enhance benefits while saving the client in excess of 200K in premiums. We also offered them an opportunity to receive a dividend at the end of every plan year.