Providing the same benefits at a lower costA Winning Plan for Employees and the Business
Established in 2000, Link Technologies serves clients in the areas of Information Technology, Software Engineering, Business Support, Project Management, and Cyber Security/Information Assurance. The company has an impressive client roster that includes both private companies and government agencies at the federal, state, and local levels. Headquarted in Nevada, Link Technologies also has offices throughout the U.S. in Colorado, Pennsylvania, New York, South Carolina, and Utah.
Link Technologies has over 100 employees serving clients onsite and remotely, with many of those engagements involving Federal government agencies that have specific requirements about employee benefits. Additionally, the company is very civic-minded, as evidenced by their active involvement in a wide range of charitable organizations as well as several training and development activities that create opportunities for the next generation of technology leaders.
Visit their website for more details.
Employees and the business impacted by growing premiumsCHALLENGE: Soaring plan costs hurting business growth plans
Link Technologies has always offered an employer-sponsored health insurance plan, but the business has some unique challenges based on their corporate location as well as the types of clients they serve. First, many Link Tech customers are federal government agencies that have strict requirements for their vendors to offer healthcare benefits with shorter waiting periods, which can drive premium costs higher. Also, many of these client contracts are for less than one year, meaning that assigned Link colleagues often do not enroll in the Link Tech-sponsored plan as they have individual coverage that they carry from project to project.
Link Technologies had historically offered a turn-key insurance plan from a traditional insurance carrier, and like most situations, premiums were growing annually. In 2021, the company was looking at a 5.6% increase in premiums which was going to result in more overall costs to the company plus increased employee payroll deductions for their participation in the plan.
Better benefits. Lower costs.SOLUTION: Creative thinking drives a better plan
Company leadership was very frustrated with the prospect of more out-of-pocket costs for the business and for their employees, and decided to explore alternatives. First, they wanted to do everything possible to keep the quality of their employee benefits the same – or even better – as compared to their current plan. Next, they focused on keeping employee payroll deductions the same or even less.
Leveraging the broader experience of the Mitigate Partners team and his own individual experience – Stephen Daniel delivered an exceptional plan that met their requirements and more.
- Claims history suggested that the company was a good candidate for self-funding, but the number of employees on the plan would make that cost-prohibitive.
- Link Technologies implemented a Medical Expense Reimbursement Plan (MERP), which has some characteristics of the prior plan but with lower out-of-pocket premiums.
- They also chose a Third Party Administrator (TPA) that specializes in these types of plans that allowed the company to keep deductibles at the same level as the prior plan.
- New benefits include unlimited virtual primary care visits with $0 co-pay for plan participants
A win-win for employees and the companyRESULTS: Creative thinking saves money and delivers more
Link Technologies recognized the issue of ongoing growing costs with traditional insurance plans, and made a change that delivers more benefits with lower costs through their EMPLOYER-BUILT healthcare plan.
OVERALL ANNUAL COST SAVINGS: $50,000+
Link Technologies is now enjoying Healthcare that Works. Contact Stephen Daniel for more details about his approach to helping this employer think differently about healthcare.
- Client:
- Link Technologies
- Year:
- 2021
- Location:
- Las Vegas, NV
- Number of employees:
- 100
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