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Case Studies
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Boston Warehouse Trading Corporation
Boston Warehouse has had a long tradition of rich, first dollar, PPO benefits, insured in recent years by Blue Cross Blue Shield of MA. In 2002, BW absorbed a 13.5% rate increase. However when BCBS raised rates by another 16% in 2003, something had to change: Cut benefits? Double employee cost? Limit freedom of choice? |  |
| Crosby's Markets, Inc.
In 1988, Jim Crosby was not fully satisfied with the escalating cost of his company s health benefits package. Plus he was unhappy with the service he was receiving from his carrier. Jim wanted an employee benefit manager who could assume 100% of the responsibility of managing his company's benefits package and present him with more cost-effective plan designs. Fortunately, Jim and his management team were introduced to Benemax. Crosby's Markets has been a Benemax client ever since. |  |
| Gibson Engineering Company, Inc.
- 5 different insurance carriers, mostly HMOs, covering a multi-state workforce
- History of double-digit rate increases each year
- Low level of satisfaction with advice and customer service offered by current brokers/carriers
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| Parallax Capital Partners, LLC
Benemax has been the employee benefits manager for the Parallax portfolio since 1999. In 2006, Parallax wanted to combine 4 of its portfolio companies (located in MA, CA, TX and NJ) into a single health benefit plan. The aim: to leverage the purchasing power of the group to generate savings and to facilitate occasional transfers of personnel between companies. |  |
| The Argentum Group
In 2005, Benemax was introduced to The Argentum Group. After learning about the Benemax value proposition ("Cut 10 to 25% out of your health benefit budget without reducing benefits"), TAG referred Benemax to several of its portfolio companies. At the same time, the firm also asked Benemax to develop a proposal to manage its own health benefit plan cost for 2006. |  |
| The NY Gay & Lesbian Anti-Violence Project
AVP has a history of providing rich, first dollar benefits. As an employer in the highly competitive New York City market, AVP recognizes the edge a top-notch benefit plan provides it in attracting and retaining top talent. In 2005, The Project absorbed a double-digit rate increase. However, when the company's insurer issued another double- digit rate increase in 2006, something had to change. Decrease benefit levels? Increase employee cost? Limit freedom of choice? None of these options were satisfactory. AVP hired Benemax and got creative.
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