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Car Dealership

Free Off the Lot

A Car Dealership with 93 employees at multiple locations understood that they had a claims problem, but never knew there were solutions to those problems. The employees benefit from our cost containment strategies due to the improved offerings of free outpatient surgery, imaging, telemedicine, and prescriptions all wrapped with their PPO plan. The employer will receive a $314,129.14 reduction in cost with a goal to lower employee premiums to $0 next year. 

$314,129.14
Total Cost Reduction

Furniture Manufacturer

Sewing it Together

A national Furniture Manufacturer with 152 employees was facing a large increase for their medical renewal. With C. B. Wood Financial's advisory services, the company was able to reduce their annual spend by $366,391 and lower their Per Employee Per Year cost to $7,915, well below the national average. The employees enjoyed a lower deductible and out of pocket maximum, as well as a $0 copay for their prescriptions.

$366,391.76
Total Cost Reduction

Private Equity Firm

Halfway There

A private equity firm with 144 employees was already being self funded, they were halfway there to managing their healthcare costs. Because they used a big box pharmacy benefit manager, C. B. Wood Financial provided a solution to alternatively purchase their high-cost prescriptions which saved them $148,984.00 while lowering 
the prescription copays to $0. 

$148,984.00
Total Cost Reduction

IT Service Provider

Long-Term Solutions

The president of the company was always frustrated that his broker could tell him what was wrong with his health insurance plan but could never offer any solutions to fix it. With our high claim carve out software and our alternative prescription purchasing program, C. B. Wood Financial was able to build them a long-term solution for the 53 employees enrolled on the plan. 

$78,097.83
Total Cost Reduction

Distribution Franchisor

At No Cost

Franchisor with over 200 franchises in all 50 states with a big 5 Insurance Brokerage firm was used to accepting their annual 8%-15% increase from their insurance carrier due to their broker convincing them it was their, "best," option. By deconstructing their retail plan, our firm was able to find $208,250 in first year savings with the same benefits. Because of the high savings, the client was able to offer a $0 out of pocket plan at no additional cost to the employer or employee.

$208,250.99
Total Cost Reduction

Construction Material Supplier

Supplying Savings

An International Construction Material Supplier received an increase from their retail carrier that would make the Employee Only coverage cost over $800 per month due to a few high claiming employees. Through our claims management, the company received $155,690 of annually savings and the Employee Only cost is now below $500 per month. 

$155,690.34
Total Cost Reduction

Pipe Manufacturer

Custom Solution

With 88 employees enrolled in their Retail Health Insurance plan, this pipe manufacturing was in need to make a change due to the over 20% increase they received at renewal. By building the company a Custom Benefit Plan, we saved $134,854 by increasing predictability of cost, improving patient outcomes, lowering risk of high claimants, and aligning vendor and carrier interests with the company.

$134,854.00
Total Cost Reduction

Chemical Manufacturer

Strategy Success

An International Chemical Manufacturing company with multiple domestic locations in multiple states, was presented with a 20% increase at renewal. With C. B. Wood Financial's cost savings strategies, the company had so much in savings that they were able to lower the per paycheck cost to $0, giving free health care coverage to every employee who works there. 

$106,204.95
Total Cost Reduction

Address

6414 Wilkinson Blvd. #329

Belmont, NC 28012

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