Employee Benefit
Case Studies

Case Study - Benefits: Consolidation of fragmented plans

 

Background
Nationwide Retail company with approximately 3,000 employees in 35 states.

 

Situation

● Needed to consolidate seven plans with 3,000+ employees.
● Called for establishment of a benefits strategy to quickly and efficiently accommodate growth through acquisition.

 

Solution

● IBP developed a custom turnkey process that enabled the company to assimilate numerous small acquisitions very quickly.

● Elements modified included the plan design, vendors, subsidy levels and negotiated managed care network discounts.

● Administration was outsourced to an HRIS  platform for scalable growth.

● As a result, the client realized $1 million in single year of cost avoidance and reduction.