500 life charter school that offers health and wellness benefits to their employees.
The employer’s goal was to decrease cost without modifying the benefits offered to the employees.
Implement a Spousal Waiver Audit. The result of this audit removed 34% of the employee spouses and an additional 3% of employees along with their spouses and their entire family for the employer’s plan.
Results of a Spousal Waiver (May 2008)
|Total||Client Annual Savings|
|Number of Employees Involved||129||–||–|
|Removing Spouse From Policy||44||34%||$122,734.92|
|Dropping All Client Coverage||4||3%||$28,146.72|
- By completing the Spousal Waiver Audit, the employer’s estimated annual savings is approximately $150,000.
- This reflects a 7.5% decrease to the overall premium.