International Union of Operating Engineers
IUOE Fund Administrator Testimonial
“Hiring KTP Advisors was the easiest decision we have ever had to make. Their team was very knowledgeable and they always do the right thing for us. We couldn’t be happier with the service.
The results are hard to believe: We are saving 40% in year 1 without any member disruption to our retiree drug benefits. They also locked in a great rate for year 2 so there is no fear of our rates sky-rocketing.
I cannot recommend KTP highly enough.”
KTP’s Results
Progress in the first 3 years
The final 2019 negotiated bid from the incumbent PBM included a 2-year rate guarantee
Fully Insured plan eliminated any risk to the Plan Sponsor
No change in plan design, formulary or network
Lifestyle Drug program added at zero cost
$2.3 million in savings for 2019, $2.3 million in savings for 2020, and $2.2 million in 2021!
Progress after 4 years
The final 2022 negotiated bid included a 2-year rate guarantee
MAPD Plan Enhancements include Silver Sneakers & Annual routine eye exam and no benefit reductions
Fully Insured plan eliminates any risk to the Plan Sponsor
$1.7 million in savings for 2022 and a minimum of an additional $1.7 million in savings for 2023!
