[LEHIGH VALLEY, PA] September 5, 2024 – BSI Corporate Benefits (BSI) proudly celebrated a few select clients for their high-performing employee benefits and health insurance plans at the annual CORE event held at ArtsQuest and Saucon Valley Country Club. The annual event brings together companies currently participating in the CORE consortium, which represents over 1,000 employers who benefit from self-funding strategies without the risk of lasers, exclusions or significant stop-loss increases. This year, the spotlight shined on three companies: Kitchen Magic, Just Born Quality Confections, and C.F. Martin & Co.

Kitchen Magic: A Model of Success

Since joining BSI CORE in 2019, Kitchen Magic has showcased impressive performance. Following a substantial 47% increase being fully insured, Kitchen Magic joined CORE and has since generated a remarkable $795k in surplus.

“BSI has been a terrific partner in successfully navigating Kitchen Magic out of the fully insured health insurance model and into the CORE platform. Speaking from experience, the support that they provide to us on an ongoing basis is second to none. From company support with the renewals and beyond to ongoing employee support all year, we consider ourselves very fortunate to have found BSI.” – Lieselotte Bacho, VP

Kitchen Magic’s per-employee per-month utilization rates are significantly below the industry benchmark, reflecting effective management of their healthcare resources. In addition,employees have enthusiastically adopted HealthiestYou services, notably in mental health and dermatology, indicating strong engagement with available telemedicine benefits, which are less expensive overall compared to traditional treatment options. Finally, participation in the St. Luke’s ExecuHealth physicals program demonstrates the company’s commitment to ensuring its leaders remain healthy and focused while managing their responsibilities.

Just Born: Looking Out for Their Peeps

Just Born, best known for its popular candy brands, including Peeps, Mike and Ike, and Hot Tamales, recently celebrated its 100th anniversary. As a BSI CORE client, they have shown exceptional performance by eliminating a laser liability and achieving over $300,000 in savings during the past three years through optimized Life, STD, and LTD benefits. Their dedication to providing their associates (peeps) with a health savings account (HSA) solution is projected to save the company $5 million over the next five years without transferring costs to associates. Just Born has also gone above and beyond by paying production associates to attend HSA education sessions, conducted by BSI, surpassing their HSA plan enrollment goal by 116%, showcasing a successful shift to a more effective plan design. “BSI’s partnership and support played a significant role in achieving our goal” said Sallie Lehigh, Sr. Mgr, Compensation Benefits/Human Resources.

C.F. Martin & Co.: A Legacy of Excellence

C.F. Martin & Co., a legacy client with 190 years of business excellence, was honored for its enduring success. Since 1833, the company has been renowned for its exceptional acoustic guitars, preferred by popular music icons for over a century. This recognition highlights their ongoing commitment to high standards and long-term success, embodying resilience and excellence in the industry.

BSI’s CEO, Tony DaRe, emphasizes the importance of recognizing clients who not only build sustainable businesses but also adapt and thrive over time. “At BSI, we are inspired by clients like JustBorn and C.F. Martin & Co. Their model for success motivates us as we look toward our next 100 years,” says DaRe. BSI’s alignment with the Tugboat Institute further underscores their commitment to building enduring, purpose-driven businesses through a people-first culture.

Congratulations to Our Award Winners

BSI extends heartfelt congratulations to the teams at Kitchen Magic, Just Born, and C.F. Martin & Co. for their outstanding achievements. Kitchen Magic and JustBorn’s commitment to innovative plan design solutions, strategic planning, and employee well-being sets a high standard for excellence in the BSI CORE model. We celebrate their success and look forward to continuing our partnership in driving future accomplishments.

About BSI Corporate Benefits

BSI Corporate Benefits is a leading provider of comprehensive employee benefits solutions, dedicated to helping organizations optimize their benefits plans and enhance employee satisfaction. With a commitment to predictability, advocacy and providing a level of day-to-day support unmatched in the industry, BSI empowers organizations to attract and retain top talent while achieving their business objectives. 

About BSI CORE

BSI CORE offers mid-market clients (<2,500 employees) the same advanced claims data and risk protection enjoyed by large-market clients. By leveraging the purchasing power of a large employer consortium and integrating BSI’s actuarial resources, BSI CORE delivers unmatched cost control. Key benefits include no future lasers or exclusions and capped stop loss rate increases. BSI CORE clients experience superior financial outcomes compared to traditional or standalone self-funded models. Clients also benefit from full transparency in administrative costs, lower taxes, predictable renewals, and a refund of unused claims dollars.

Information provided to TVL by:
Corinne Kavounas