Self Funded Platform:
Controlling Costs at Renewal
$1.7 MILLION +
Increased surplus retained from $0 to $1.7 million in one year
47%
Reduced claims spend by 47% over one year
$350K +
Saved more than $350,000 in claims through med & Rx intervention
The Situation
VIRGINIA
376 EMPLOYEES
One of our broker partners successfully built a block of business by transitioning clients and prospects to a self-funded consortium.
The prior program lacked carrier and network transparency, claims management and cost containment features, leading to significant increases in medical stop-loss premiums for these groups, making self-funding unstable.
Crumdale worked to understand the current suite of vendors serving the group of accounts to identify improvements that could be implemented.
Goals
CLIENT:
Long-term strategy to control costs and stabilize the self-funded consortium.
BROKER:
Stabilize the self-funded consortium and achieve cost savings for the block.
