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Health Insurance Expense

Business Challenge: 
Our user's client was very focused on their employees, in fact, they had been recognized as a “Best Place to Work” several years in a row. Although performing very well, they wanted to see comparative metrics to identify any areas for potential improvement.

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Our Solution: 
The accounting firm uploaded their client's trial balance. Reviewing the Money Report showed the marketing agency spending twice what peers were spending on health insurance. Our client a
sked if it was a premium plan that they used to recruit, retain, or motivate employees. The firm collected some additional data from their client to run the People report to see costs per employee, turnover rates compared to peers, etc. 

Turns out, they were not only unhappy with their plan and spending that much more than their peers, but it had no strategic impact on their business. 
They were overspending by $162,000 each year and were able to shop for a new insurance provider. The client was very happy that they received the insights from their accountant.

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