ANNUAL
SAVINGS
PROJECTIONS
using a 6-month
insurance report
We Impacted Premiums by 15% ($309,000)
We Impacted Medical Claims by 63% ($1.5MM)
We Impacted Pharmacy Costs by 20% ($52,000)
Total Claims Impact is 58% ($1.6MM)
Insurance Loss Ratio = 68% (down from 138% in 2021 Jan-Jun)
Insurance Loss Ratio % = Claims Paid / Premium Paid
Their Insurance Loss Ratio went from 138% in 2021 to 68% in 2022. When an insurance loss ratio is below 100% that would justify a reduction in premium cost at renewal. If Loss Ratio is near or above 100% that is bad… and typically means they would see an increase in insurance premiums at renewal. Traditionally the best people hope for is 100%.