Managing the Increasing Costs of Health and Benefits Plans

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Managing the Increasing Costs of Health and Benefits Plans

A long-standing Client had utilized ICA’s services to manage their property and casualty insurance program. Upon facing an astronomical health benefits cost increase in 2001, the Client reached out to ICA for help to address their coverage and cost management needs. ICA performed an assessment of the Client’s benefits program and made recommendations to the Client. Thereafter, through managing the competitive marketing process the resulting achievement on behalf of the Client yielded a premium reduction of $1.7 million, effecting a nearly 20% improvement to that Client’s bottom line for the Client’s new health plan.
This case study is not unique. In 2018, a new habitational Client in the Real Estate sector hired ICA for ongoing risk management services and saved approximately $3 million in their first year. All Clients can rest assured that any savings achieved on a Client’s behalf, are kept in full by the Client, as ICA does not work on a contingency basis and does not participate in the savings achieved for its Clients. ICA is hired to make recommendations to optimize insurance coverage wherever possible.