Level self-funded health insurance plans work similar to traditional insurance:
Just like a traditional health insurance plan, your set monthly premium is split into three categories:
- Claims reserve fund
- Third party administration
- Stop loss policy premium
If your claims reserve either for one individual (specific stop-loss), or for the maximum amount set by your group (aggregate stop-loss) is ever exceeded, your stop loss reinsurance policy kicks in to cover those claims. This insures your organization against large losses.
Your claims reserve is the largest portion of your monthly costs. In a typical insurance company, if you do not use this amount, it becomes profit to the company and their shareholders. However, with level self-funded health insurance, if your group performs well, the remaining balance of the claims reserve becomes once again available to the employer as a refund (at the end of the contract period).
Also, similar to traditional insurance, you can receive similar benefits or the plan design you may have now, while saving money.
We would love to demonstrate by the numbers, the cost comparisons and savings associated with a level self funded health insurance plan customized for your company or organization.
Let us know a little more and we’ll get to work for you. >>
Level self-funded health insurance plans are much more affordable than traditional insurance:
Unlike a traditional health insurance plan, level self funded health insurance puts the control over plan design, cost savings, and other factors back into the hands of the employer, allowing you more flexibility, more control and better cash flow than with traditional ACA health plans.