The Affordable Care Act allows insurance carriers to underwrite health insurance plans with medical claims data for employers with more than 50 employees. Because of the ACA, it puts employers with 50-500 employees at a disadvantage because they are large enough to be underwritten with claims data, but, in the past, too small to utilize all supply chain management strategies. That being said, our firm has established relationships with vendors to allow businesses with as small as 50 employees to take advantage of the strategies that large employers have the benefit of using.
C. B. Wood Financial is not a traditional insurance brokerage firm. Like a fiduciary for a Retirement Plan, we act as an independent advisor to our client's Benefits Plan. We will analyze your plan and it's cost structure to forecast the long term health care spend of your company. There are times that employers are underpaying for insurance. In that case, we will put in place monitoring systems to trigger the right time to move the plan. But, if your company is like most and you are overspending, we will layout a project to build your firm a customized solution with guaranteed savings.
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.
After presenting the deliverables of the project, your company has the opportunity to make a decision to move forward. If we are unable to reach the savings we guarantee or you decide to hire us as your advisor to the plan, we will return 100% of the consulting project fee. If you would like to retain your broker, but would like us to implement and monitor the plan, we will return 50% of the fee. Or, if you decide to retain your broker and have them implement the plan, we will keep our fee. Our clients typically earn up to a 20 to 1 Return on their Investment.