Caravus Case Study #4: “Participation in health plans starting to decline.”
At Caravus, keeping our clients healthy and secure is in our DNA. We want to share a few of our success stories with you through the case studies highlighted in our news feed.
Cosmetic enhancement company.
Leadership of this organization had recently changed. Their new Operations Manager had plenty of work on his plate and realized the company’s benefits package needed a complete makeover. He asked if Caravus could lend their expertise in this area, a subject he openly admitted was not his strongest suit.
On the most basic level, the health plan options the client had been offering no longer fit the needs of its staff. The employer contribution level was starting to fall short of carrier requirements, making benefits so expensive for employees that participation was declining. What’s more, managing HR compliance with employees was causing major concern. They needed a program that was affordable for both the company and its employees.
In collaboration with the client, Caravus developed a survey to find out what employees most wanted in a health plan. Along with training the new Operations Manager about a variety of benefit considerations, this helped lay the foundation for making dramatic changes that could help the company towards its goals. To the company’s credit, once they understood they needed to make significant changes, things started to move quickly.
We Made The Complex Simple
Caravus worked with the client to identify core needs. They provided a recommendation centered on a defined contribution strategy, which offered employees a choice of four plan options – precisely the kind of coverage they were asking for. Additionally, they explained how implementing Caravus Connect would provide a great solution to so many of their needs. It would streamline plan selection, make communication with employees easier than ever, made compliance easier, and provide greater organization to the HR aspect of their business. In addition, the enrollment deadlines established in Caravus Connect were steadfast, prompting employees to complete their enrollment on time and without hassle to management.
How It's Going
Feedback from employees is that they enjoy having so many options, and especially like the additional contribution from the company. Leadership likes the fact that they have a budgeted amount per person.
The Caravus team and the Operations Manager are now friends and he knows he can count on Caravus to give him expert guidance and provide solutions to make his life easier.
Operations Manager: “I have been thrilled with the service that I have received and how the tool is already making benefits administration more efficient.”