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Employers in the Group Captive have more control over costs, more flexibility over plan design, and thrive together.
All three layers work together as a unique and innovative funding model that becomes the foundation for building a benefit plan that delivers value. It helps to ensure interests along the care continuum, including those of the member, provider, pharmacy, hospital, and claims manager, align with the employer’s best interests.
With the captive model of self-funding, you gain more control over aligning interests. This yields a benefits plan that directs employees towards preventative care, wellness incentives, and cost-effective, high-quality services, which results in more satisfied employees and lower costs.
In fairness, when the concept of self-funding health insurance is first considered by mid-size employers, it can appear intimidating. But once the concept is presented and budgeting numbers are established, employers realize they can fund the plan on a monthly basis similar to the monthly premium they are accustomed to. The difference is that any funding not applied to claims stays with the employer and its employer benefit plan. Self-funding also offers highly personalized customer service, so there is minimal disruption and more engagement with HR, Finance, and with all employees. Health benefits are more integrated into the culture of the business.
To help demystify and simplify self-funding, every year we bring together employers and benefits advisors from around the country for a Medical Captive Forum (MCF) to learn from each other. Educational at its heart, the MCF spotlights solutions that save employers money while enriching their employee benefits program. This year, we are excited to host the event in Chicago May 18-19 at the Marriot Marquis. Our theme is Mission Possible. Because we believe there is a better alternative for health benefits.
It’s about time. Employers of all companies, especially small to mid-size businesses, deserve to save on healthcare costs while still offering their employees outstanding medical care.
Join us, learn, and collaborate in Chicago! You can register for the Medical Captive Forum here.
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