“These ever rising, unpredictable insurance costs are killing my business!”

Paper goods are a very low-margin business. So, with a mostly younger, active employee population of 118 split over two locations in Miami, Miami Paper* chose a high deductible, high out-of-pocket health insurance plan to keep their premiums as low as possible. Though their premiums were well below the national average, they still paid around $750 per employee per month, almost $90,000 a year. They struggled with the unpredictable increases every year, but raised prices and cut costs to somehow stay afloat. Then “inflation-geddon” hit and rates outpaced any hope of growing out of it. Miami Paper called Weltrio. Within their first year with Weltrio, costs dropped to $578 per employee, inclusive of Weltrio’s costs—saving $20,000 that went straight to their bottom line. This bumped their profit margin and fueled growth, allowing them to survive in a very tight market that was putting other paper goods companies out of business. This is a typical example for companies of all sizes. Weltrio works with our clients to curate benefits and reduce healthcare spend. Our clients commonly see much better benefits with a sustained 50% savings!

As a CEO, what keeps me up at night isn't just rising high costs from inflation—it's the unpredictability of those costs. I work hard to build my business, optimize operations, and forecast growth, yet my insurance premiums are so frustratingly outside my control. You know what my HR Director just told me? That our premiums are going up 40%! Next month! How am I supposed to plan for that? So I called my insurance broker myself and they said I could get it down to a 32% growth, but that I needed to grow both out-of-pocket and deductibles to their max. Ugh. Not sure I can keep my employees if I have to keep doing this…

I called a fellow CEO friend of mine and they referred me to Weltrio. Here’s what happened:

• Weltrio asked me some questions about my current insurance. Some answers, I didn’t know and neither did my HR Director. They told me that’s typical with fully funded plans and that keeping control of your data is how they work. They looked at what I did have and then told me they could help.

• First, Weltrio called my broker. I’m not sure how they did it, but somehow kept me FLAT year over year. That savings alone was worth it!

• Then Weltrio assigned our company a health coach and they started working with my employees. They meet with the coach and have started setting quarterly health goals. I’ve got to say, it sure feels nice to be able to tell my employees that they and their families now how 24X7 access to a company nurse. None of my competitors have that!

• Working with my team, the coach started curating our benefits package, keeping the ones my employees used and cutting the ones they didn’t. They even added a few new ones. When they were done, our benefits were great, but cost us less. I didn’t even know you could do that!

• As they worked with my employees, they focused on prevention and getting them to work with their primary care docs. When an employee did get sick, the coach and nurse helped them find lower cost medications and better treatment. They also worked with our insurance company to get things approved.

• My HR Director says they are planning on taking us self-insured in the next 3 months. They said that will further cut our costs and give us a lot more control. I didn’t know my company was big enough to do that.

• I’ve got to say, this process was much easier than I’d thought it would be. I was very surprised at both the cost savings and how much my team loves Weltrio! I’ve always just found a way to make the annual increases work. This year with a 40% increase though, that might have ended us! I owe my buddy a thank you dinner!

Weltrio works with companies of all sizes. Our typical client saves 50% on their medical insurance premiums. Our longest running client has consistently done this over 9 years. Our clients say having happier, healthier employees who rave about their benefits helps them with recruiting and retention. They also say the cost savings give them a big competitive advantage.

This isn't a fantasy. It's what Weltrio delivers.

Your Next Step

Healthcare costs shouldn't be your company's biggest uncertainty. Schedule a 30-minute consultation to learn how Weltrio can transform your healthcare expenses from an unpredictable burden into a competitive advantage.