Straight From the Horse’s Mouth: Employer Success Stories – Part 2
Gravie has a track record for helping employers offer competitive benefits, save money and eliminate hassle. But don’t just take our word for it. Here’s part 2 of 3 three success stories from businesses like yours that made the switch to Gravie. If you missed Success Story #1: Top Tier Benefits at a Sustainable Cost, check it out here.
Success Story #2: Individual Advantages With Expert Guidance
For more than 40 years, food manufacturer Mrs. Gerry’s has worked to be an employer of choice to a diverse workforce that spans geography, language and socioeconomics. A desire to give its employees benefit options that better aligned with employees’ individual needs led the 150 employee company more than five years ago to abandon the group health insurance market in favor of individual policies.
Continuously rising costs led the company to reconsider the decision last year and entertain the idea of re-entering the group market. Their broker told them their only option was group insurance. But then they found Gravie.
It was clear to Mrs. Gerry’s managment team from the beginning that the individual market with Gravie was going to be a very different experience than navigating it alone. With Gravie, Mrs. Gerry’s employees were able to select health insurance plans that fit their unique needs with help from licensed experts and an intuitive shopping platform. Before Gravie, they were all on their own to figure it out.
In comparing the quotes received from three different insurance companies in the group market, Mrs. Gerry’s estimates that it saved about $250,000 in one year. In fact, the next cheapest group insurance quote was over twice as much. Even with the potential ACA penalty included in their 2015 financial analysis, their expenses with Gravie would be a fraction of what group insurance would cost them, for similar or better coverage. Request a financial analysis to find out how much your business could save.
- Left group insurance market 5+ years ago for individual options, but cost concerns led the business to reconsider group
- Broker told them their only option was group health insurance
- Financial analysis from Gravie showed that group plans remained very cost prohibitive (2X more than working with Gravie)
- Gravie helped mitigate ACA penalties, saved the company money and allowed Mrs. Gerry’s to continue individual model
- Employees got the added support and expertise of the Gravie advisors (check out our post: Common Questions from our Members, Answered.)