Level-Funded Health Plans

Level-funded health plans allow employers to pay a preset level premium equivalent which includes fixed costs and maximum claims fund.

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The decision to transition a fully-insured client to a self-funded plan, especially in smaller groups, is often a difficult one. Without claims data, how can one truly understand the risk associated with the group? We understand the challenge associated with making this transition and have created a level premium product that takes the guesswork out of determining if self-funding is a viable option for your clients.

We have built HealthyAdvantage, an easy, online quoting platform that enables you to log on any time of the day and receive a quote within 30 seconds. Our team works with you to deploy an online medical underwriting platform and guidelines, help identify employee conditions, including current prescription drug use, height and weight, and tobacco use statistics that provide an accurate risk profile for the group. From the data collected, a risk analysis is built and assigns the group a risk score.

 

Learn How HealthyAdvantage Can Help You

Level premium self-funding is ideal for groups that are currently fully-insured with 5 to 600 members and provides an innovative approach allowing small and medium-sized employers to self-fund their medical plans. This simplistic approach is commonly used to help provide all of the advantages of an ERISA plan with the payment and annual guarantees normally associated with a fully insured health benefit program. It’s also an attractive option for employers looking to improve an existing self-funded program.

 

Level premium self-funding provides:

  • Comfort of knowing fixed monthly premiums
  • Flexibility afforded with being able to offer multiple benefit options
  • Availability of risk/cost management programs
  • Access to detailed claim data and analytics
  • Guaranteed 100% return of unused claims fund

 

If you have a group considering a shift to self-funding or interested in improving an existing program, email us at healthyadvantage@gbsio.net to request a quote.