Stop Dreading the Renewal Packet: GLP-1s, Cost Shifting, and a Live Renewal Teardown

Description

Your health insurance renewal is in hand, and it contains two decisions most HR leaders are facing for the first time. First, GLP-1 medications: our survey of 500+ companies found most employers cannot isolate what these drugs added to their renewal, even as coverage decisions are now costing companies talent. Second, the increase itself: shift it to employees, cut coverage, absorb it, or fight it, and our data shows where each choice hits employees hardest. This session pairs the survey findings with a live line-by-line teardown of a real anonymized renewal letter, including a case where a 20 percent increase was reversed and the employer saved 160K without cutting benefits. 

Submit your renewal questions at registration and we will work through as many as possible live. 

Key Takeaways / Outcomes

By the end of this session, participants will be able to:

• Evaluate GLP-1 coverage options (cover, restrict, drop) using new data on cost impact, employee expectations, and talent risk at peer companies
• Interpret a health insurance renewal letter line by line, distinguishing negotiable elements of the increase from fixed ones 
• Compare cost response strategies using survey data on where cost shifting hits employees hardest and what employees increasingly expect from small and midsize employers 
• Interactive format: pre-submitted renewal questions worked live, plus real-time polling on GLP-1 coverage status against national data.

HRCI CEU/SHRM PDC Offered

About the Facilitators

Nick Taranto 

Nick Taranto is Co-Founder and CEO of Ignition Benefits. He previously co-founded Plated ($300M exit to Albertsons, the largest in Shark Tank history) and HOP WTR (sold to Constellation Brands). A Marine Corps veteran, he now helps companies take control of their health insurance renewals. 

James Taylor

James Taylor is Chief Producer at Ignition Benefits, advising companies on health insurance renewals and plan strategy. With 26 years inside the carrier and broker world, he knows how renewals are priced before employers ever see them, and puts that knowledge to work on the employer's side.