Precept is celebrating 22 years of delivering innovative benefit solutions that improve company results.
Preceptís founder and CEO, Wade Olson, established Precept in 1987 as a brokerage firm dedicated to sourcing and delivering health and welfare benefits to employers.
Over the course of 22 years, Precept has listened to the needs of its clients and has responded by adding the services required to meet them. This evolution has resulted in a comprehensive benefits consulting and administration outsourcing firm, serving 250 corporate clients with benefits consulting, procurement, administration outsourcing, health management, retirement and online enrollment services.
The result of Preceptís growth is an organization that is bringing Fortune 100 strategies to middle market companies to control costs, reduce administrative burden, and improve employee attraction and retention.
Precept Expansion of Client Services
|1987||Precept founded – focused on brokerage and consulting|
|1993||Acquired third party administrator focused on health and welfare administration services|
|1996||Established in-house Customer Care Center, focused on improving employee experience in enrollment, education, claims support, and employee advocacy. Currently, 14 agents handle over 165,000 employee contacts annually.|
|1999||Established online enrollment and administration system with proprietary data warehouse that links all key stakeholders to an integrated solution|
|2004||Brought in Chief Medical Officer to establish health promotion, health awareness, disease management support, and large case advocacy. Carriers are guaranteeing Precept clients a positive ROI for these services.|
|2006||Established client portal using a secure website to allow our clients’ employees to access all key information needed to successfully manage their individual needs. In 2009, an average of 81% of our clients’ employees utilized these portals to manage their care.|
|2008||Established Dashboard reporting metrics that leverage data from carriers’ eligibility and claims systems, payroll, HRIS, and Precept underwriting/actuarial services to illustrate trends/patterns and allow employers a view into key cost drivers|
|2010||Established CarePlus, a multiple employer purchasing cooperative to allow mid-market employers (200–5,000 employees) to access best-in-class insurance products that guarantee future pricing based on behavior-based plan design and employee health management activities.|
|2011||Established global benefits consulting practice, providing global benefits management, international employee benefit assignments, mergers and acquisitions support, and multinational pooling services for clients with international employees|