BKS Helps Entities Qualify for Large Group Status that Provided Premium Savings

BKS wad approached by a group of related entities that were growing rapidly and needed to attract employees to maintain their customer demands. They had individually piecemealed programs with varying premiums and limited benefit options based on the small number of employees at each location.

Background and Context

Taking a deep dive into the business relationship between the various entities unearthed the ability to combine the employee population which consisted of approximately 200 employees.

Solutions and Tactics​

The newly combined census of employees qualified the entities for Large Group status which opened up carrier markets and programs that had not previously served as an option for the business.

Value and Lessons

Shifting to the Large Group market allowed far more benefit design options, consistent rating by employee and a premium savings of $160,000 annually. We also gained optics on prevalent health risk factors and applied risk mitigation tools to curb claims activity in subsequent years.

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