Plans that offer your employees support and options.
Level funded health insurance tailored for your employees.
Level funded health insurance is a great option for smaller businesses with 100 or fewer employees. Level funded health insurance offers predictability of a traditional fully insured health plan with savings that are comparable to self-funded programs.
Level funded health insurance can benefit your business and your employees.
Level funded health insurance offers a monthly consistent cost and protection from unexpected claim costs. In addition, you receive wellness programs that are built-in that reward employees for engaging in healthier lifestyles. Unlike traditionally fully insured health plans, level funded insurance gives your business a reimbursement at the end of the year if your claims are lower than expected. When your employees are healthy, you share in the savings.
Think about adding stop-loss coverage.
If you experience claims that are higher than you expected, your stop-loss coverage policy kicks in. Stop-loss is coverage that is purchased along with your level funded policy to protect against catastrophic or unexpected loss. A stop-loss policy (also known as excess insurance) allows employers to save money through level funded health insurance, but do not want to assume 100% of the liability. There are two types:
- Specific Stop-Loss—provides protection against a claim on any one individual.
- Aggregate Stop-Loss—provides a ceiling on the dollar amount of eligible expenses that an employer would pay during a contract period.
Contact us to learn more about level funded health insurance options for your business and we’ll walk you through your options!
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