Covenant Services Group Announces a Multi-year Rate Guarantee Health Plan for Employer Groups

Atlanta, GA  –  December 16, 2010 - Covenant Services Group, a premier provider of health benefits risk management and administrative services, has launched Covenant Advantage™, a multi-year rate guarantee health program for employer groups with 200+ employees.  This is the first program of its kind in the nation to address the single largest challenge facing employer-based health plans of uncontrolled costs by allowing employers to reduce risk and manage budgets by locking in health care rates on a multi-year basis. 

Industry statistics state that over 75% of every dollar spent in healthcare is spent treating conditions that are lifestyle related and largely preventable.  Covenant Advantage addresses the problem of uncontrolled variable costs by targeting unhealthy lifestyles, the core issue that drives health plan expenditures.  By creating a synergistic partnership between the employer and the employee, Covenant Advantage addresses the root cause by providing employees the tools needed to actively moni¬tor and manage healthy living choices.

“Overall results have been astounding,” said James F. Ballew, President and CEO of The Covenant Services Group.  “As a test pilot in 2005, our client’s claims were reduced by 28.8% during the first year and continued to decline over the years as employees adopted healthier lifestyles.”  

Covenant Services Group and its insurance carrier partner offer employers a guarantee of a maximum rate increase of no more than an 8% in total plan costs from one year to the next. As an industry leader, Covenant has assisted employers to address health care costs as a risk management challenge, NOT a pricing issue.

Mike Masters, Executive Vice President of Covenant said, “Year in and year out, our clients were frustrated with the increasing and uncertain costs of healthcare.  So, we decided to become a proactive administrator / risk manager and engage the employer and their employees with a plan to tackle the problem head-on.”

“This is the most revolutionary approach to the financing of healthcare I have ever witnessed,” said Dominic Hagger, Director of RFIB Group Limited, a London Insurance and Reinsurance brokerage firm.  “The reinsurance community is excited about the new, long-term partnerships with employer groups that the Advantage program represents.”

About Covenant Services Group

Covenant Services Group has been a premier provider of health benefits risk management and administrative services since 1992.   As an innovator in its field, Covenant Services Group has aggressively tested health benefit savings programs for self-funded employers over the past five years.  Demonstrable, positive test results have enabled Covenant to build a special partnership with a major, A+ rated insurer. To¬gether, the two companies have created a plan that strikes a harmonious balance between employees living healthy lifestyles and employers realizing dramatic cost savings. For more information, visit http://www.covenantservicesgroup.com.

For more information, please contact:

James F. Ballew
678-258-8207
jballew@covenantservicesgroup.com

Michael R. Masters
727-674-2213
mmasters@covenantservicesgroup.com