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It`s 30 days from renewal and the carrier has "offered" a 22% premium increase, take it or leave it. No warning, no indication as to why your organization lost its status as a great client. In fact, even your broker seemed surprised despite having brought the same bad news to several other clients.
You are in the unenviable position of bringing this bad news to the rest of the senior management team, a position made all the worse because of the cost-cutting campaign the entire organization has been engaged in for the past 11 months.
Do you have a choice? What can be done in 30 days? Where do you cut? Who do you blame? Why didn`t you get any warning?
It`s 90 days from renewal and the carrier has "offered" a 22% increase, take it or leave it. No warning¦ even your broker seems surprised!
You bring the bad news to the senior management team, but you also bring a plan. "We're going to shop the market and get the best deal possible! is your rallying cry."
Three broker capability presentations and 45 days later, a mixed bag of proposals sits on your desk, one of which is an "attractive" renewal with only a 12% premium increase. Changes will have to be made.
You and your new broker rush to put together the enrollment and education plan. D-Day comes and things snowball fast as employees discover the new plan has quite a few wrinkles to it: co-pays are different, networks shift, family benefits are reduced¦
It`s 30 days from renewal and the carrier has "offered" a 22% renewal increase, take it or leave it. No warning, even your new broker seems surprised.
What are you going to do?
Why keep on subjecting yourself and your organization to this torture? Why not break out of this vicious cycle? Isn`t it time to get off the train!
If you would like to find out what to do to permanently avoid The Annual Train Wreck, call us and we`ll show you a whole new world of strategic benefit strategies, capabilities and tools.