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From a Broker in Chicago, IL
Gary/ Rebecca,
It's emails like this one that every agent dreams of, but few ever see!
As you know, Metal was self-insured in 2007 and was getting killed by uncontrolled rising claims,
premiums and fees. Since switching to MERP at the start of 2008 and de-leveraging their financial risk by
a factor of 33 times (i.e., lowering their specific deductible from $100,000/ person down to an employer's
deductible of only $3,000 per person), they have saved considerable sums of money.
What a testimonial this is!.. I think I will print off this email and frame it over my desk!
...as I say, the email below is the type of message that every agent dreams of but not even one in a
hundred agents will ever live to see!
Thank you RP Riley!!! ©
Very Happy Broker
From that Broker's Client
Mike,
I thought you would like to see this information.
| |
Jan-June 07 |
Jan-June 08 |
| Administrative Costs |
20% |
10% |
| COBRA Contributions |
0% |
9% |
| Employee Contributions |
4% |
7% |
| Employee Opt-Out Bonus |
0% |
1% |
| Insurance Premiums |
7% |
48% |
| Medical Claims |
61% |
20% |
| Prescription Claims |
8% |
5% |
2007 YTD: $1,819,331.71
2008 YTD: $956,811.49
Savings: $862,520.22
Have a good weekend!
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