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A client is among the six companies founded by the federal government to ensure the security and reliability of the North American electric system.

Though less than 100 people are employed by the firm, they are highly educated and sought-after professionals. The company understands the need to compensate its team well and strives to keep them happy.

However, the benefits package they received from another broker, where they had a longstanding relationship, was not living up to the standards the company demanded.

That’s when Oswald stepped in to analyze existing plans and create better solutions. Oswald found the following.

• Renewal rates were skyrocketing.
• Benefits had been reduced as a way to manage cost increases.
• Executive benefits that were promised were not fully implemented.
• Benefit packages were confusing, and employees received little support from the previous broker during open enrollment
• RF had minimal communication, if any, from its previous broker beyond renewal time.

The Oswald Difference

Oswald leveraged its size and longstanding relationships with multiple carriers to take the company to the marketplace. We took a holistic view of the benefits being offered by the company to understand both the need and why those benefits were chosen.

• We presented the benefits of Blue Cross Blue Shield’s ERCHealth, a Preferred Risk Pool that would provide a well-rounded package to all employees and their dependents at a cost savings of 11% or $180,000. It included the following:
  • Member rewards and advocacy
  • Access to direct primary care
  • Preventative meds for $0 copay
  • Wellness incentives
•  Separate coverages such as vision, dental, health and life had been placed with different carriers. Oswald bundled them together to be covered by Guardian to gain discounts and efficiencies.
• Oswald reviewed all the executive life insurance policies and found inconsistencies in the types of coverage across the executive team. Oswald updated that coverage to comply with company policy and provide a richer benefits package for the executive team to help with retention.
• The company has several employees who are eligible for Medicare, so Oswald developed an ongoing Medicare education campaign.
• Though most employees are remote, Oswald provided education sessions to help them understand their benefits. We helped host an onsite Health Fair, bringing local vendors and benefit specialists to the company’s headquarters to help answer any questions during open enrollment. We created an easy-to-navigate webpage that hosts a single point of reference for all the benefits documents that can be used during open enrollment and ongoing throughout the year. One-on-one help is also provided as needed. In one instance, an Oswald representative talked to emergency room staff at an out-of-state hospital to walk them through the employee’s benefits.
• Oswald is also a compliance partner and completed a full compliance review of all benefit programs, documents and forms. Our team not only pointed out which items needed to be updated due to changing benefit providers, but even updated the documents for the company as standard practice of the service we provide.

Oswald continues to analyze the company’s insurance coverage for Cyber, Property & Casualty, Directors & Officers, and provide consultation and advice as needed.

The Senior Director of Corporate Services said, “The Taylor Oswald team has been incredible to work with. They have been a huge asset and supplement to our small HR team. They took the time to get to know our business and our people, knowing what is important to us, and continue to find products and services that compliment our benefit program for our employees.”

Our goal is to help the company take care of its valuable employees by providing richer benefits that will enhance retention. The employees can then focus on keeping America’s power grid up and running.

View more Success Stories here.

To explore how Oswald can improve your employee benefits and other protective solutions, contact us below.