Case Study: SquareTrade achieves 20% ($700K) health plan savings with Lumity, Inc.

SquareTrade’s $700K Health Plan Savings

SquareTrade, a San Francisco–based provider of device protection and warranty services, was growing past 400 employees and lacked visibility into healthcare claims, leaving them exposed to routine 8–10% trend renewals with no way to judge their true group risk. To solve this, SquareTrade engaged Lumity, Inc. as broker of record and benefits partner, using Lumity’s consulting, plan design analysis, HR tech guidance and analytics.

Lumity, Inc. applied its proprietary risk model to SquareTrade’s aggregated, anonymized data, revealing a consistently favorable health risk score and giving leverage in renewal negotiations. The result: annual health plan costs fell from $3.2M to $2.5M — a 20% savings ($700K) — while benefits were improved and the company reinvested the savings in recruitment, engagement, and training.

SquareTrade

Josephine Chan

Vice President of People