Issue
This small group client was acquired by a larger umbrella organization within their industry. Despite the organization’s acquisitions of smaller companies similar to the client, the parent company was not part of a large group health plan and managed its individual acquisitions’ plans separately. When it came time to renew, this client was informed that their current carrier was dropping them due to a change in tax ID.
Solution
- Our team quickly analyzed alternative plans and funding solutions for the client, looking beyond their current carrier options and going to market with a variety of carriers.
- In addition, our team created an open enrollment form and comprehensive employee communication strategy to enhance employee understanding of their benefits and expedite the enrollment process.
Outcome
- Our swift action resulted in the efficient implementation of a new health plan, ensuring the client’s employees avoided any lapse in benefits coverage.
- Employee contributions were maintained due to our modeled contribution strategies.
| Company Information | |
|---|---|
| Industry | Manufacturing |
| Geographic Footprint | National |
| Number of Employees | 39 |
© 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.
