In the numbers-driven world of group insurance, some of the best decisions are made with numbers in the background. Identifying the right plan means knowing both the complexities of group insurance, and the complex organization the group has formed. The best health plans can advance your strategic direction, address your competitive environment, and support your workplace culture. It's a lot more than claims data, and actuarial assumptions. So, as a true advisor, we do more.
With over 40 years of combined experience, we know the business of health plans. We also know what's like to run a business. As former managers in several large and growing companies, we've seen the real impact of group insurance decisions - the good and the bad. Now, as advisors, we are focusing those experiences and insights on helping organizations make good decisions.
By most definitions, we're consultants. And that's true, with this important difference: we advocate and practice full financial transparency. We favor fees over commissions, and we disclose every dollar we earn because of your business. Call us consultants or advisors, but not middlemen. Our focus is squarely on you, and we work to earn your business through performance, integrity, and results.
Is there a Middle Ground between a Conventional, Fully Insured Health Plan and a Self-Funded Plan?
Yes there is, and it’s time you knew about it.
As you know, the healthcare market has seen a great deal of change over the last several years. And, if you’re like most professionals in the benefit field, you can now converse on the advantages or disadvantages of a Health Reimbursement Account (HRA) versus a Health Savings Account (HSA), as well as the difference between large case management and chronic disease management.
But, what about the basics?
What do you know about plan funding options? For instance, do you know what a minimum premium funding arrangement is? For most people, the answer is no. So, before you consider overhauling your plan design, you should first look under the hood and examine the engine that is driving your plan: how it is funded. Especially now that spiraling costs have put benefit plans on senior management’s radar screen and all options are out on the table.