Client Profile

Less than 50 employees
25% reduction in healthcare spend in 2 years
$60,000 return of unused premium after year 1

Summary

As a small, but rapidly growing company, Keystone Technologies wanted to extend health benefits to all its employees. But with their current insurance provider, that meant a 55% increase in cost. Simpara was approached to help find a better way—with the ultimate goals of helping save money on healthcare spending, reducing employee’s share of cost and minimizing member disruption with any transitions.

Results

After taking part in the company’s annual benefits review, Simpara helped Keystone create a self-funded health insurance plan. Purchasing benefits from a variety of vendors increased vendor competition and lowered prices. Additionally, by implementing direct contracting, specialty pharmaceutical solutions and a host of other transparency tools, Keystone saw a return worth $60,000.

In two years, Keystone Technologies was able to reduce spending by over $130,000 annually, and their current plan now covers 100% of health costs for employees.