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Grace College is an evangelical Christian community of higher education that applies biblical values in strengthening character, sharpening competence, and preparing for service. Due to their self-funded strategy for health insurance, the college was facing as much as $3.4 million in unpredictable exposure from employee medical costs. In the midst of increasing budget pressure, they were struggling to continue with such high costs.
$3.4M in unpredictable exposure from employee medical costs.
High costs heightened stress in the midst of increasing budget pressure.
Utilizing the Remodel Health platform, Grace College was able to . . .
Reduce the employee’s healthcare spend.
Reduce both expense and claim liability for the college.
Switch from a self-funded strategy to marketplace and share program plans.
As a result, the school was able to repurpose a significant amount of their financial resources back to their missional goals. Their annual savings were $750,000 and they now have a projected four-year savings amount of $3,000,000.
Taking into account the amount of inflationary trend increases Grace would have experienced on their group plan, they now stand to save $2+ million over the next few years as a result of the switch to the Remodel Health Platform. The organization’s overall exposure dropped significantly, and many of the employees have seen a decrease in their annual medical costs as well. With the additional realized savings stewarded back into the college budget, Grace was able to give discretionary compensation increases to their staff.
UP TO $750,000 IN ANNUAL SAVINGS
LOWERED EXPOSURE
ADDITIONAL BENEFITS
