Whether it’s slit steel, blanked steel, steel that is cut-to-length, edge conditioned steel, cold reduced steel, or sheared steel; Hascall Steel Inc. prides itself on its steel processing expertise and commitment to quality. And that expands further than the products it manufactures.
When it comes to its employees, Hascall is devoted to providing them with great care. With 100 employees across multiple locations, the company needed health insurance management and great benefits for its committed employees.
WHEN COVERAGE GOES SOUTH
Hascall Steel Inc. is a company that cuts, rolls, and sells Rolled Steel to manufacturers for end-use. With 100 employees across multiple locations in Michigan and Tennessee, the company was in need of compliance support, employee administration, benefits administration, and a strategic plan for managing its healthcare options.
At the time, Hascall was fully insured with a well-known carrier in Michigan, but they were about to receive a whopping 43% increase at their renewal.
Hascall Steel started looking into other brokers, but none of them could provide the ongoing management, creative ideas, or overall quality customer service they needed. Through sales outreach and good brand awareness, Hascall Steel found BHS Insurance.
CHOOSING THE RIGHT PARTNER
Hascall Steel was attracted to BHS because of its unique strategic relationships with Health Captive partners. BHS also uses an evolutionary analytic software package that can be plugged into all carriers to actively monitor claims. This software utilizes Health Intelligence much like Siri of Apple, so that doctors and patients can easily communicate with one another and have access to the data saving capabilities it provides. This exclusive software gives BHS and Hascall the power to see where health care can be better utilized to lower spending while having a healthier staff.
The company was also attracted to the innovative partnerships with PBM’s (Pharmacy Data Management) which gave Hascall Steel the ability to analyze each pharmacy claim to determine the most beneficial way of buying a drug while utilizing transparency and full pass-through pricing.
THIS IS A BIG DEAL, RESULTING IN...
- Removal of highly-priced medications from the plan
- Utilizing rebates
- Institutional monies
- Coupons to lower spending
- Employees who participate in these programs get their medications for free
BHS's unique offerings and capabilities encouraged Hascall to set up and administer a strategic plan for managing their health insurance options.
COMING UP WITH THE PLAN
BHS Insurance met up with the team at Hascall Steel Inc. to personally experience their facility, learn about the business, discover their problems and assess its unique risks. Based on what the agents learned, BHS looked at plan design claim activity and crafted a program that improved benefits for staff while lowering costs.
BHS was able to find a unique solution to combat and reduce the increase on insurance spend. It completed due diligence and introduced the best health benefit captive that met Hascall Steel's needs. This included...
- Selecting the right third-party administrator
- Choosing the right stop-loss levels
- Choosing/creating the right programs to drive cost containment initiatives
When fully insured rates went through the roof, BHS was able to present a self-funded option utilizing a health care captive and innovative prescription benefits manager to lower and level out health care costs over the last five years. A large part of why and how they were able to do this was because BHS set up a direct contract with the providers, enabling them to lower claim costs while simultaneously providing better benefits for the entire staff.
THE COMPANY HAS RECEIVED UP TO 6% OF ITS PREMIUMS BACK BASED ON CAPTIVE PERFORMANCE WITH THE BHS INTELLIGENCE SOFTWARE THAT ACTIVELY REVIEWS CLAIMS.
In the 3rd year of utilizing the Health Captive, BHS partnered with Metro Care, allowing Hascall’s staff to receive care at lower deductibles, and lowering health care costs for the company.
In the beginning, Hascall was cautious to try new programs. In the end, it benefited significantly while keeping benefit costs flat for the company (even reducing it) while still providing better than average benefits to their staff.
Now, Hascall Steel Inc. is able to offer better benefits, better care, and full transparency to its team members at a lower cost.
GET THE COVERAGE YOU REALLY NEEDWe believe in building our community through strong relationships and great service.
At BHS Insurance, our agents will actively listen to your needs, come to your site, and get to know your people to gauge a true feeling and understanding of what your risks really are, then, we can create policies that truly satisfy your needs.
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