MEDFIELD, Mass.-July 31, 2003-Chip Poli, founder of fast-growing Poli Mortgage Group, did the math for the young company's employee benefits. Guided by employee benefits manager Benemax-considered a "next generation" provider of consumer-directed health plans (CDHP) by the Galen Institute, an influential think-tank-Poli realized that it makes economic sense for the firm to assume a bit more risk for its health insurance plan.

It works. For the past three years, Benemax's strategy has held Poli Mortgage's annual health premium increases to less than five percent, compared to the prevailing 12-15 percent. Poli, who launched the Needham, Mass.-based firm in 2000 after a successful career as a mortgage broker, has not been forced to cut benefits as the company grew from three to 80 employees.

Thinking Ahead Yields Savings
Poli Mortgage is taking a long-term approach to employee health benefits, and this is smart planning, says Benemax co-founder and president William Garnett. "They didn't make the classic mistake of giving away benefits or taking an off-the-shelf package that comes up for annual renewal with a walloping rate hike. Instead, they've put a benefits infrastructure in place that lets them offer a top-of-the-line health plan at an affordable price."

As Poli gradually transitions to a consumer-directed health plan, the company will set aside funds and establish a Health Reimbursement Account (HRA) for each employee, who can build a benefit bank to use as they see fit.

"We want our employees to have a great health plan," said Poli. "If something happens, people shouldn't have to lower their standard of living. Our plan from Benemax is far superior to an HMO. There are no gatekeepers or referrals required for employees to get the treatment they need. The goal, which we've achieved, is keeping premium increases lower than average without diminishing the level of benefits."

Benemax also administers the plan for Poli: It handles all claims processing, tracks payments to healthcare providers, educates employees about their benefits and answers questions through their call center and customer-service web site. For Poli's human resources manager Dianne Guadette, this is a huge advantage. "There are so many aspects to benefits," said Guadette. "Benemax also manages our dental plan and 401(k). They're in the business. I'm not. Benemax analyzes what we need and makes sure that we're doing things right. Employees, myself included, appreciate having a knowledgeable benefit manager to turn to."

About Poli Mortgage
Poli Mortgage Group, based in Needham, Mass. (www.polimortgage.com) was founded in 2000 by brothers Chip and Chris Poli and has quickly grown to become a major player in the mortgage brokerage and lending industry throughout New England. Staffed by highly experienced mortgage professionals, the company is guided by the simple charter of securing a mortgage for anyone who deserves one, along with a commitment to excellence. By combining the use of the Internet along with advanced processing software and automated underwriting systems, Poli closes loans quickly, at low cost.

About Benemax
Benemax, based in Medfield, Mass. (www.benemax.com), was founded in 1975 and now manages employee benefits for more than 200 corporate clients ranging from start-ups to divisions of Fortune 500 companies. Benemax designs and administers attractive yet highly cost-effective employee benefit packages, including consumer-driven health and dental plans. The company grew by more than 35 percent in 2002, the third consecutive year of over 35 percent growth.

Link to photograph of William Garnett and Chip Poli: www.benemax.com/benemaxpolimortgage.jpg