Benefits for Businesses of All Sizes
We know your business faces the difficult challenge of trying to offer your employees quality health benefits while keeping the cost of providing these benefits within your budget.
With traditional health plans (fully-insured), you pay your fixed monthly premiums and the insurance company assumes the risk. In doing so, the insurance company also profits most in those years when your company’s claim costs are lower than expected.
Many large companies (with 100+ employees) establish self-funded plans that allow the employer to benefit when claim costs are favorable.
We can offer you a powerful, practical alternative to traditional approaches that allows YOU to reap the benefits enjoyed by larger employers and eliminate the risk. It’s called “Level-Funding” or Small Employer Self-Funding and it rewards your business for its good claim experience. Stop-Loss coverage (automatically built into the plan) protects you from the risk of large claims incurred by an individual and by the group as a whole. The level of risk is tailored to meet the needs and risk tolerance of businesses with 10-99 covered employees.
Monthly and annual reports show you exactly were your money for health benefits is going. By using the reports you can confidently adjust your plan through different deductible and copayment levels to maximize potential savings – without compromising your employee’s satisfaction. Why pay higher premiums to have ER copay in the plan if no one is utilizing that benefit?
- More flexibility in plan design
- 2 of the 4 new Health Care Reform Fees do not apply to Self-Funded plans
- Pay less in state premium taxes
- Plan is governed by ERISA and is therefore exempt from certain state mandated benefits
Contact us for a quote and to set up a consultation to review your compliance obligations under ACA and Department of Labor and discuss coverage options. Our toll-free number is 1.800.261.7612.