WNY Manufacturer Reduces Healthcare Costs With Health Insurance Captive

Overview

Graphic Controls is a Buffalo, NY-based manufacturer that was unhappy with their limited health insurance options over the last few years. Constantly raising rates, reducing benefits was the annual escapade used to ease the continued burden of rising health insurance costs. Graphic Controls wanted a better answer to help provide benefits for their local workforce of over 300 employees.

Solution

The Lawley Benefits Team analyzed their available claims data along with the current benefits offered and recommended exploring a partially self-funded health plan using a health insurance captive. This program gave Graphic Controls access to the benefits of being a self-funded health plan without all the risk of being self-funded on their own. Using this approach, GC was able to use this new access to more data to help them manage their health plan better. By joining Lawley’s health insurance captive, it allowed them to leverage the knowledge and power of the other employers involved to gain the advantages of being a larger group with access to exchanged ideas and best practices leading to further opportunities.

“You have to be vigilant in your efforts to control costs and by joining a health insurance captive, Lawley gave us the tools to do it” – Sam Heleba, President & CEO – Graphic Controls

Results

As a member of a Lawley health insurance captive for three years, Graphic Controls started a progressive wellness program that involved biometric screenings and other wellness initiatives for employees. Voluntary Employee Involvement in the program has resulted in savings of $350,000 in 2013 and $400,000 in ’14, which is 15% and 20% for their health insurance, respectively. Graphic Controls and their Buffalo-based employees continue to save on health insurance through a health insurance captive.