Bitly Increases Employee Satisfaction, Reduces Costs
Bitly, a 70-person technology company with offices in New York, Denver, and San Francisco, needed an alternative to their PEO platform.
Looking to grow, they wanted a cost-effective solution that would: 1) deliver a competitive benefits package, and 2) improve the benefits education and enrollment experience for their employees.
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.
Bitly’s PEO migration delivered a cost savings of $1,000 - $1,500 per month, a superior consolidated benefits offering, and high NPS from employees on the entire enrollment experience.
It’s rare to ever say employees thoroughly enjoyed open enrollment, but the experience with Lumity was just that – clear and concise. From the branded benefit guides to the live open enrollment presentation and the modern, data-driven enrollment software, Lumity really delivered on their promise of a superior benefit experience.