Launchways conducted an employee survey and healthcare utilization analysis, restructured Popular Pays’ plan design to align with employee preferences, and reduced their annual medical premiums by 10%.
As Popular Pays prepared to close a Series B round of funding, they identified their benefits program as an area to cut costs and improve burn rates. Some of the challenges included overpaying for out-of-the-box online broker benefits, low plan utilization and lack of employee education around benefits offerings.
Launchways conducted a healthcare utilization analysis, redesigned their health and dental plans, added additional ancillary coverages, and implemented online benefits enrollment technology. Additionally, Launchways increased the quality of Popular Pays' benefits offering, while also reducing annual benefits costs.
Popular Pays saw results working with Launchways, including: