Lumity performed a cost analysis on the fully-loaded PEPM that Bitly was paying for. Because PEOs don’t provide claims visibility, Lumity ran a proprietary risk model based off anonymized census data from Bitly’s employee roster. Forecasting came back extremely favorable.
The team modeled benchmark rates and consolidated the plan selection down to three core offerings:
• A PPO
• HSA-eligible HMO
• EPO plan (hybrid has HMO and PPO advantages)
The benchmark rates were used to negotiate with the major national carriers, ultimately securing a 15% discount on Bitly’s renewal. What’s more, the final benefits package included ancillary lines of coverage.
With the package locked down, Lumity served as project manager for implementation and open enrollment. This delivered a seamless transition onto the benefits platform that completed within an 8-week PEO migration timeline.