CASE STUDY
Christian college in Indiana saves $750,000 annually.
Challenges
$3.4M in unpredictable exposure from employee medical costs.
High costs heightened stress in midst of increasing budget pressure.
Results
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 4 year savings amount of $3,000,000.
Grace College is an evangelical Christian community of higher education which 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.
With Remodel Health, Grace College has...
Previous Plan
Self-Funded Group Plan
Organization
Grace College
Market
Colleges & Universities
Location
Winona Lake, IN
Size
2,029 Students | 168 Employees
...reduced exposure for the college and the employees.
...an annual savings amount of $750,000.
...projected savings of $3,000,000 in 4 years.
By trusting Remodel Health and its platform with their health insurance, Grace College was able to provide raises to ALL employees, in addition to better benefits and bigger savings.
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Solutions
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.
Utilizing the Remodel Health platform, Grace College was able to...
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Key Wins
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UP TO $750,000 IN ANNUAL SAVINGS
LOWERED EXPOSURE
ADDITIONAL BENEFITS
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.
Want to see what kind of savings and solutions are available to your organization?
