At Relation Insurance, we understand that employee benefits are more than just policies—they are a crucial part of a company’s commitment to its workforce. When a veteran-owned engineering firm in Colorado faced an unsustainable rate increase, they turned to us for a solution that would balance cost containment with their goal of maintaining a high-quality benefits package.

The Client: A Veteran-Owned Government Contractor

Located in Colorado, this government contractor has a dedicated team of 175 employees and generates $10 million in annual revenue. With a strong emphasis on employee well-being, they were committed to providing a robust benefits package to attract and retain top talent in a competitive market.

The Challenge: Rising Costs Without Sacrificing Benefits

Like many businesses, our client was hit with a significant renewal rate increase—14%, to be exact. As a veteran-owned company that values its employees, they were determined to find a way to reduce costs without compromising the quality of benefits their workforce depended on. The challenge was clear: How could they continue offering competitive benefits while keeping costs under control?

Our Solution: A Strategic Approach to Cost Containment

Our team of Employee Benefits experts got to work, leveraging our deep industry relationships and market expertise to craft a bespoke solution tailored to our client’s needs. Our approach included:

1. Carrier Optimization: We explored alternative carriers and identified a new provider that could offer the same level of coverage at a more competitive rate.
2. Multi-Year Containment Strategy: By negotiating a multi-year agreement, we implemented a structured cost-control plan that stabilized expenses over time.
3. Integrated Solutions: We aligned plan design with cost-saving strategies, ensuring minimal impact on employees while maximizing savings.

The Results: Significant Cost Savings & Stability

The results spoke for themselves:

• 21% Reduction in Per Employee Per Year Claims Costs – A significant drop in claims expenses without a reduction in coverage quality.
• .006% Rate Increase the Following Year – Far below the industry average of 7% per annum, ensuring long-term cost stability.
• Enhanced Employee Satisfaction – The company continued to offer a benefits package that met employee needs while keeping costs manageable.

Your Partner in Smart Benefits Planning

At Relation Insurance, we take a hands-on, relationship-driven approach to employee benefits. We don’t just find solutions—we craft tailored strategies that align with your business goals. If your company is facing rising benefits costs, let’s talk. Together, we can create a plan that keeps your employees covered and your bottom line healthy.

Ready to explore your options?

If you’re looking to create a benefits package that reflects your company values and employees’, while advancing your business goals, we’re here to help. Let us be your partner in building solutions that work today and for years to come.

Find a Location today to explore how Relation Insurance can help your business succeed.