The challenge
The National Institute of Minority Economic Development reached out to MMA via an introduction from the NC Center for Nonprofits. They had recently been through their benefits renewal and open enrollment process. During this process with their incumbent broker, they lost their ability to remain grandfathered under their old plan resulting in a significant rate increase. They were not presented any cost mitigation options and unfortunately had to pass much of the additional cost on to their employees. This resulted in a reduction in enrollment as well as value perceived by their employee population in the benefit program.
The solution
Through the introduction from NCCNP, MMA worked with The Institute to procure an alternative funded arrangement for their medical benefits and used the NC Center group-purchasing program that resulted in over 25% savings across the board in other lines of coverage. The Institute also rolled out the MMA communication strategy to employees and benefits technology system to facilitate open enrollment.
The result
Employees at The Institute saw payroll deductions decrease by over 40% for like benefits. This resulted in increased participation in the new plan, improved employee morale, and possibly most important, a significant shift in the value perceived of the new group benefit plan. Employees came out of the process feeling much better and more educated on their benefits and truly valuing the investment made by their employer.
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About Marsh McLennan Agency
Our involvement in non-profit and social service organizations extends beyond a transactional relationship. We’re involved because we believe that non-profit organizations change lives and communities. Today we are pleased to partner with over 120 non-profits in NC and are looking forward to partnering with more. To learn more about how we are supporting NCCNP and other non-profit organizations click here.