Health & Welfare
Turning Challenge into Opportunity
With a constantly changing economy, continually escalating health care costs
and a myriad of privacy and compliance laws to contend with, there are many
challenges in offering benefits to your employees. Many companies tend to take
incremental steps by reducing benefit levels or increasing employee cost
sharing…providing only marginal relief while eroding employee perceptions.
Lockton can help you turn these challenges into an opportunity.
An opportunity to re-think your employee benefits strategy and the role it
plays in attracting and retaining employees.
The Consulting Broker
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The increased cost of employee benefits has been accompanied by new and
innovative offerings from providers trying to help their clients contain costs.
As a consulting broker, we track these new offerings, understand your corporate
objectives and work to deliver the optimum benefit solutions that meet employees’
needs and align with your organization’s goals.
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Lockton
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We will help you analyze your current situation, project your future needs and
design a comprehensive plan drawing from the large array of services available
from our pool of carriers and service providers. Your Benefits team will monitor
your plan performance to make sure there are no surprises throughout the year.
The Steps Beyond
In addition to designing a creative plan with your specific objectives in mind,
our associates use the vast intellectual and technology resources available
to them to further improve employee satisfaction and cost containment into the
future. We will help your HR department develop a thorough communication program
to push information throughout your organization. We also have tremendous
experience in helping clients educate their employees to be savvy health care
consumers. We’ll work with you to invoke a proactive wellness and disease
management program that encourages healthier lifestyles, reduces costs and
breeds healthier attitudes.
Your Life Cycle Partner
Our objective is always to be more than a vendor.
We want to be an active participant in your employee benefits planning and
implementation process. Our associates want you to feel they are an extension
of your HR department…an extension that has intimate knowledge of all available
solutions and has the resources and experience to make them successful in your
organization.
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Success Stories: |
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Containing Costs
A municipal client faced a crisis. If 15 percent annual increases in health care costs continued, it would spend $51 million annually by 2011, an unsustainable amount. Lockton explained the benefits of a Consumer-Driven Health Plan, and the City agreed. Lockton and the Client effectively communicated the details and benefits of the new plan. The client also hired four on-site wellness coaches to provide a myriad of healthy lifestyle programs. Employees are now better-educated, more involved consumers whose actual cost share is less than it was four years ago. Total plan costs decreased and were held for a number of years. The employer then improved the benefits, which increased the cost slightly.
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Wellness Incentive
A nonprofit organization provided it employees with a 100 percent-paid medical plan. However, it wanted its employees to adopt healthier lifestyles. With Lockton’s assistance, the employer decided to offer its employees some unique incentives: the option to pay full medical plan premiums or earn “premium credits” through participation in wellness programs. The employer added a third-party administrator to coordinate an array of wellness options. The program launched in early 2008, with employees giving favorable responses.
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Health Fair and Health Risk Assessment Gain Popular Support
In an effort to launch its new wellness program, a worldwide media company sought popular attention and vendor support for a company-wide Health Fair for its nine locations. The company faced poor vendor participation with communication materials, giveaways and major prizes as well as carriers who didn’t support the company’s wellness goals. In response to these challenges, Lockton orchestrated communication materials such as flyers and e-mail blasts for the Health Fair through an outsourced wellness vendor. Lockton donated $1,500 worth of giveaways and, with persistence and negotiation, supplied the client with 1,000 giveaways from every vendor. All communication pieces and giveaways arrived to the client well before the deadline, resulting in record Health Fair attendance at all locations and increased participation in their Health Risk Assessment. The company recognizes Lockton for their program’s success and continues to hold annual Health Fairs.
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Retailer Achieves Savings Goal Through Renegotiation
Lockton Benefits was appointed broker for a firm that employees 7,000 people just two and half months prior to their January 2008 renewal date. The employer, one of the nations largest tool and equipment catalog retailers, owns more than 315 stores nationwide. Lockton needed to market, negotiate renewals, provide superior communication for open enrollment in December and save the client 10% of projected costs in 2007. By leveraging Lockton’s position with the incumbent carrier, Lockton renegotiated and restructured the financial agreement with the current carrier. This allowed the company to reach their savings goal on time. The renegotiated agreement earned the retailer a net savings of $900,000 for 2007. The new agreement is in place for 2008, with projections of similar savings.
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