Issue
This private equity group came to CBIZ seeking guidance to streamline their benefits strategy. With six separate companies in their portfolio, the firm was managing each company’s benefits plan separately and wanted to explore the possibility of consolidating.
Solution
- Our team analyzed each portfolio company’s individual health plan to identify savings opportunities that could be achieved through plan consolidation.
- We then consolidated the independent underwriting and used advanced data analytics to help forecast the unique needs associated with the consolidated health plan.
Outcome
- The health plan consolidation streamlined the firm’s administrative processes.
- This approach also produced immediate savings of $450k for the firm, as well as an average annual cost savings of 11%.
| Company Information | |
|---|---|
| Industry | Private Equity |
| Geographic Footprint | National |
| Number of Employees | 550 |
© Copyright CBIZ, Inc. All rights reserved. Use of the material contained herein without the express written consent of the firms is prohibited by law. This publication is distributed with the understanding that CBIZ is not rendering legal, accounting or other professional advice. The reader is advised to contact a tax professional prior to taking any action based upon this information. CBIZ assumes no liability whatsoever in connection with the use of this information and assumes no obligation to inform the reader of any changes in tax laws or other factors that could affect the information contained herein. Material contained in this publication is informational and promotional in nature and not intended to be specific financial, tax or consulting advice. Readers are advised to seek professional consultation regarding circumstances affecting their organization.
“CBIZ” is the brand name under which CBIZ CPAs P.C. and CBIZ, Inc. and its subsidiaries, including CBIZ Advisors, LLC, provide professional services. CBIZ CPAs P.C. and CBIZ, Inc. (and its subsidiaries) practice as an alternative practice structure in accordance with the AICPA Code of Professional Conduct and applicable law, regulations, and professional standards. CBIZ CPAs P.C. is a licensed independent CPA firm that provides attest services to its clients. CBIZ, Inc. and its subsidiary entities provide tax, advisory, and consulting services to their clients. CBIZ, Inc. and its subsidiary entities are not licensed CPA firms and, therefore, cannot provide attest services.
