Client Results - Healthcare
Beecher Carlson Leverages
its Analytical Prowess to Quadruple Premium Savings for Santa Clara Family Health Plan
Santa Clara Family Health Plan is a health plan serving Medicare and Medi-Cal members in Santa Clara County, California. Beecher Carlson was awarded their HMO Reinsurance program in 2007, mid-policy year.After we dug into their program, we discovered that they literally could not have a claim under their coverage, given the terms and conditions written into the program. The expiring program contained daily limits that precluded any member from reaching the deductible.
Beecher Carlson requested a full data dump of all claims paid by the HMO since 2004. We sorted this data by member and created various loss picks and modeled different coverage options for discussion with the client, prior to any marketing. This pre-underwriting stage was significant because the client chose to increase their protection through significant coverage enhancements.
The next challenge involved placing the coverage that the client wanted. This involved full follow-the-fortunes coverage, an unusual placement for a relatively small health plan with working layer protection.
The results: Santa Clara Family Health quadrupled their premium savingf upon renewal in January 2008. They did so because Beecher Carlson was able to demonstrate value in purchasing coverage enhancements.
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