Mattress Firm rests easier: Consumer-driven plan scores with employees while saving employer up to $75,000 annually
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“We wanted to get employees more involved in their health care. Most of our employees are under 30, and they very much want to keep their costs down. With the Great-West Healthcare Consumer Advantage plan, they are empowered to keep the costs down for themselves and the company as a whole.” –Heather Grimard, Controller, The Mattress Firm
Founded in 1986, The Mattress Firm entered the retail market with its first store in Houston, Texas. Today, the company is one of the leading specialty retailers of conventional bedding with 300 stores coast to coast. Mattress Firm attributes its success to unmatched professional service to customers and a stimulating, family-oriented culture for employees. Twenty-four Mattress Firm locations in Colorado, Illinois and Missouri fall under a Denver-based franchise, which employs 86 people.
Benefits needs:
- A plan to keep premiums low
- A plan and to cover employees across multiple states
The Great-West Healthcare solution:
- Employees’ copay and out-of-pocket expenses are now lower than before.
- The first year on the Great-West Healthcare Consumer AdvantageSM plan, the franchise saw cost savings even greater than anticipated - approximately 11 percent. Mattress Firm was even more pleased with a renewal rate increase of 2.5 percent.
- With savings of approximately $5,000 every month over their previous carrier, the company saves between $50,000 and $75,000 annually.
- Lower costs allow the company to keep employee premiums at just $36 per month.