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Client Offers Better LTD and Saves Otherwise Wasted Dollars by Rethinking with Balser.
August 1, 2007 - Balser can help your company be ahead of the game when it comes to rethinking how to provide the right Long Term Disability coverage.
EVP & Principal Managing Director Fred Hill has provided smarter, less expensive and better benefits to some of the country’s leading employers by taking a consultative and competitive approach.
“Most companies are allocating LTD dollars to the wrong, or less optimal, contracts. With only one exception, we have always been able to save a client money and build a better LTD offering,” says Hill.
After reviewing the existing disability plan of a Fortune 50 Company, Balser negotiated a new plan design, communicated and enrolled the program, and integrated with the clients TPA for ongoing administration of the plan. Balser recognized that the client worked directly with its LTD carrier for more than a dozen years, that the rates varied from year to year, based on claims experience– and the rates/costs were generally trending up over the past five years.
Different levels of employees within the organization have different types of compensation to protect. Balser re-design a plan that resulted in immediate cost savings of more than $200,000, projected to repeat annually. The new plan reduced the company’s exposure to future rate increases, and expanded coverage for key employees significantly.