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A suite of level-funded health plans is offered that cost up to 25% less than comparable plans and return 100% of unspent funds. Medical, prescription, dental, and vision administration services are available.
Level-funded plans take into account the health of each employee and avoid some of the red tape associated with traditional insurance. Because of this, they typically cost less for employers and employees.
Level-funded plans give employers a predictable, flat monthly fee. And if expenses are higher than projected, plans have built-in secondary insurance, known as medical stop-loss coverage, to help protect organizations.
What if costs come in lower than expected? Employers get 100% of the claims account surplus. Period.
There are several reasons, including:
- The health of employees is taken into account when rates are set
- The model is subject to fewer government mandates, such as premium taxes, than typical health insurance
- If actual costs are less than projected, employers keep 100% of the claims account surplus
- If there are higher-than-expected costs, plans include stop-loss insurance, backed by a respected carrier, that safeguards employers