Steven Eigen Maximizes Benefits at Central National Gottesman

Steven Eigen has been told by those in the insurance industry that, as CFO at Central National Gottesman (CNG), he thinks about securing insurance and benefits for his employees in a much different way than most. The CFO is responsible for purchasing all health insurance, universally one of the top three expenses for employers along with payroll and rent.

“I don’t approach it with the mindset of just reducing cost,” Eigen says. “I think that can ultimately be shortsighted for the business. I approach it in the sense of getting the best value for what we’re spending. By getting the best value, I feel that ultimately lowers costs.”

The contrast with the typical CFO mentality, one focused on negotiating plans down to the lowest spend, is intentional. For Eigen, making preventative care affordable isn’t just the right thing to do ethically or clinically; it’s also a sound financial decision. Early detection of serious illnesses saves lives and, in the long run, reduces the company’s healthcare expenditure because catching conditions at an early stage prevents more extensive, expensive interventions later.

Eigen’s commitment to dignity and respect for employees is evident in the details of CNG’s plans. For instance, when an employee undergoing chemotherapy loses their hair, the company’s plan covers not just any wig, but one procured in partnership with a luxury retailer.

“They go to the personal shopping section at Neiman Marcus, and an associate greets them and makes them feel like a person,” he says. During a person’s most trying period, it’s a moment that restores dignity, self-respect, and a sense of normalcy. These experiences ripple through the organization, and it’s something employees relay to coworkers.

Recognizing the waste and frustration caused by bureaucratic hurdles, Eigen has eliminated some of the common “cost control” measures that end up being penny-wise but pound-foolish. For example, he negotiated with Cigna to waive the requirement for physical therapy before authorizing MRIs, a step that, in most plans, required employees to take unnecessary time off and the company to pay for unneeded therapy sessions.

The result? Faster diagnoses, reduced overall costs, and employees who feel supported rather than stymied by their benefits.

Eigen also knows that a one-size-fits-all approach doesn’t serve a diverse, multinational workforce. Benefits are thoughtfully calibrated to the demographics and regional medical systems of each location. In New York City, for example, many top physicians are out-of-network, while in California, most of CNG employees prefer Kaiser Permanente. Eigen addresses these differences to ensure equitable access and satisfaction across CNG’s footprint.

CNG’s preventive care efforts are hands-on and even include a recurring character. Each year, Eigen dons a white lab coat and walks the office as “Dr. Mal Practice,” encouraging employees to book annual physicals and screenings. The company also offers raffles and tangible incentives for employees to engage in preventive health behaviors.

These efforts have proven life-saving: In one case, an onsite biometric screening identified a driver’s dangerously high blood sugar, prompting immediate care and averting potential disaster.

There are many stories like this. At CNG’s New York headquarters, a pair of long-tenured married employees who met at CNG are receiving comprehensive support for complex care and testing related to a Lou Gehrig’s Disease diagnosis. In an awful moment for the family, a silver lining can at least be found in the feeling that the healthcare system is working for them, which can be rare in such a trying time.

Eigen negotiates plans as tough as anyone in the industry, but his aggressiveness is directed at maximizing what employees receive, not just cutting costs. He times negotiations according to claims cycles, leverages multiyear deals when advantageous, and closely tracks utilization trends to secure the best possible deals without sacrificing care quality.

“No one wants to save money more than I do. It’s literally my job, but that has to be the byproduct,” Eigen says. “If the focus is on how to best serve our employees, at the end of the day, it’s going to wind up being cheaper anyway.”

This philosophy has helped keep turnover low and built an enduring culture of loyalty and trust, proving that an investment in people is both good business and the right thing to do. It can be a hard needle to thread, but Eigen has made it his career’s focus.