Gallagher Broker Paul Fetterolf Recognized as a 2019 Employee Benefits Power Broker
Paul Fetterolf, Senior Consultant, Mid-Atlantic Region, Gallagher
It would be an understatement to say that a large manufacturing company was “dissatisfied” with the way its medical claims vendor processed claims on an ASO basis. The company noticed massive fees charged back to the plan for out-of-network claims the vendor paid incorrectly the first time.
Seeking greater integrity, accountability and transparency, Paul Fetterolf “tactfully but persistently moved us out of our comfort zone” by scrapping the company’s preference for large network providers and shifting to an independent TPA, said the company’s benefits leader.
The shift generated immediate savings, said the leader, such as $100 thousand-plus savings on out-of-network back surgeries.
One of Fetterolf’s N.Y. clients was withdrawing from a Professional Employer Organization.
That in itself is challenging, but coming out of a PEO, then setting up a new benefits structure and building new vendor relationships was “a huge undertaking,” involving complex interactions and conversations, said a company executive.
“Paul did it with tact, diplomacy and thoughtfulness. He’s a rare bird.”
When Fetterolf proposed a new voluntary retiree medical plan with structured copays for a large, self-insured, mostly unionized nonprofit, the benefits manager was interested in the front-end savings, the 40 percent reduction in premiums for those who chose it and the $6 to $8 million reduction in future liabilities for the plan.
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.