CBG Benefits

HealthCare Benefits Trust: Case Studies

CBG Benefits has partnered with the HealthCare Benefits to offer plans that are tailored to hospitals, healthcare systems, and other healthcare providers.Through our partnership with the HealthCare Benefits Trust, we are able to offer companies an average of 25% savings annually on their Group Life and Disability costs.

The following case studies illustrate how the Trust has been able to deliver results for other businesses.

 

Case Study #1

Prior to utilizing the HealthCare Benefits Trust, this hospital had 8,294 employees. Their annual spend on Life and Disability was $1,158,033. A complete analysis of all aspects of the client’s disability and life plans was conducted. Here is what was accomplished:

  • Enhanced benefits for all Executives on Long Term Disability
  • Identified and implemented an advantageous tax ruling that helped enhance benefits
  • Enhanced RN coverage with a Specialty Own Occupation Definition of Disability
  • Identified numerous minor plan consideration that resulted in an additional 11% savings to the Long Term Disability plan
  • Added an RN Recruitment Benefit that pays the hospital 25% of an RN’s salary when they are disabled
  • Changed the funding mechanism of Group Life — resulted in an additional 10% savings
  • Increased the Guarantee Issue Level
  • Improved financial terms by increasing grace period from 30 days to 90 days

Financial Results for this Hospital

Annual Savings: $463,213 (40%)

Savings over 3.5 year rate guarantee: $1,622,085

 

Case Study #2

Prior to utilizing the HealthCare Benefits Trust, this hospital had 1,866 active employees and 457 retirees. Their annual spend on Life and Disability was $771,761. A complete analysis of all aspects of the client’s disability and life plans was conducted. Here is what was accomplished:

  • Enhanced benefits for all Executives
  • Identified and implemented an advantageous tax ruling that enhanced the Long-Term Disability benefits
  • Enhanced RN coverage with a Specialty Own Occupation Definition of Disability
  • Identified numerous minor plan considerations that led to an additional 5% savings on Long-Term Disability
  • Added an RN Recruitment Benefit that pays the hospital 25% of an RN’s salary when they are disabled
  • Doubled the Guarantee Issue Level on the Group Life Insurance
  • Negotiated a 4-year rate guarantee on the Long Term Disability program and a 3-year rate guarantee for the Life plan
  • Improved financial terms by increasing grace period from 30 days to 90 days

Financial Results for this Hospital

Annual Savings: $331,858 (43%)

Savings over 3.5 year rate guarantee: $1,272,914

 

Learn More About the Trust

For more information on how your company can benefit from the HealthCare Benefits Trust, use the links below: