Gallagher Broker Michael Rankin Recognized as a 2019 Employee Benefits Power Broker
Michael Rankin, Area Vice President, Gallagher
Fighting rising health care costs is no easy task. That’s especially true in Southern California, a predominately HMO market which is less able to capitalize on the consumer-driven plan designs being popularized in much of the rest of the country.
LPA Inc., an integrated design firm, found itself caught in the middle. “I am a financial guy, and I could see the future becoming unsustainable,” said Charles Pruitt, CFO of LPA.
Michael Rankin had a plan: increase deductibles on the HMO programs and offset costs to consumers with a Health Reimbursement Arrangement. That consumerism put the employees in the driver’s seat of their own health care costs.
“He brings new ideas to the table. He’s not shy about pushing back, explaining what’s happening in the rest of the industry and benchmarking us against competitors,” said Pruitt. “We appreciate that pushback.”
For a fast-growing construction management company fighting for talent in a tight labor market, Rankin helped secure a competitive benefits package.
With Rankin leading the way, the organization maintained single-digit price increases over the past two years.
The company now boasts one of the richest benefit programs in the construction management segment.
“Year after year we take little steps forward,” said the organization’s CEO. “After a while, you’re a mile ahead of the competition.”
A Risk & Insurance Power Broker® is an individual who stands out among their peers for the exceptional client work they delivered over the past year. While brokers play many key roles in the insurance industry and risk profession, a Power Broker® award recognizes problem solving, customer service and industry knowledge.
Our goal is to broadly recognize and promote outstanding risk management and customer service among the brokerage community.
Who selects the winners?
Power Brokers are selected by Risk Managers based on the strength of the testimonials they provide to a team of 15 Risk & Insurance editors and writers.