
Wirerope Works, Inc.
Innovations In Health Benefits
How One Manufacturing Firm Saved 36% on Health Benefits Costs.
About the Company
Wirerope Works, Inc. is a 130 year old American company that operates the world’s largest wire rope manufacturing plant. Its products are sold worldwide. Currently, the company employs several hundred people.

Would Rising Health Benefits Costs Bankrupt The Company?
Will Double-Digit Cost Increases Become “The New Normal”?
At Last, A Solution For Reversing The Cost Increase Trend
The Bottom Line
Insurance Savings of $2+ Million Per Year And More. Compared to the anticipated renewal costs it faced, Wirerope Works saved about $2.2 million or 36% ($3.8 million compared to $6.0 million). Instead of getting increases each year, like most companies do today, Wirerope Works, Inc. enjoys savings year after year.
In addition to the significant dollar savings, the company experienced additional benefits including employee and union satisfaction with the quality of the program. In many cases, they feel that the quality of care has actually increased. Employees also commented on the improved access, responsiveness and support that Homestead’s third party administrator INDECS provided.
THE BOTTOM LINE:
Staying with the status quo, health benefits costs would have continued to skyrocket. With the Homestead Smart Health Plans program, management is able to control and reduce costs while improving employee satisfaction.
