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Employers manage risk in almost every aspect of their business, however many ignore health insurance, often their 2nd highest expense.
The problem with fully insured health plans is that there are very few ways to manage risk other than to increase copays, deductibles, and the employee's share of the premium. Partially self-funded health plans provide employers transparency of data and flexible plan designs to help manage risk. Unfortunately, due to the volatility of claims from year to year and exposure to large claims, some employers feel uncomfortable with this approach. Our Group Health Captive allows employers to take advantage of all of the benefits of a partially self-funded health plan while mitigating volatility exposure.
Here's how it works.
Our group health captive will allow your company lower costs and implement proven risk reduction and loss control strategies. Most employers have no idea how much medical claims risk their company is exposed to. It is critical to identify employees who are high medical risk and identify employees who have the potential to become high medical risks. Nurse outreach, education, and coaching have proven to have a significant impact on claims experience!
Highlights of Cost Reduction:
· Eliminate insurance carrier profit
· Minimize State premium taxes
· Eliminate or modify State mandated benefits
· Receive RX rebates an insurance carrier would otherwise capture
· Receive Investment Income that an insurance carrier would otherwise capture
· Any monies not spent on claims are either returned to the employer in the form of dividends or retained by the employer
· In excess of 75% of the fully insured equivalent premium is eligible to be returned or retained by the employer
Highlights of Risk Management:
· Biometric Screening and Analysis for all employees - to help identify health risks
· Online Health Risk Assessment - to help identify health risks
· Custom Wellness Website with Duke University Wellness courses - to help improve the health of your employees
· High risk employees and employees who have the potential for developing chronic conditions will be identified
· Nurse Outreach to help these high and medium risk employees better manage their health
· Complete set of reporting so you have the data you need to address the risk in your group
· Telephonic Coaching
· Predictive Modeling
· Disease Management
· We offer a variety of proven incentives which encourage employees to better manage their health
Flexible Coverage and Administration:
· Employers have the ability to offer numerous medical plans
· Access to over 200 PPO networks
· Ideal for Multi-State Employers
· Superior claims administration and customer service
· Transparency of Data - Employers are entitled to their claims data
At Becker Benefit Group we feel this model is far superior to the fully insured model you are currently using. We are confident that we can save you money, encourage a healthier lifestyle, and show you an innovative approach that is something that you have not likely seen before.
Gary C. Becker, President
Becker Benefit Group, Inc.
11000 Owings Mills Boulevard, Suite 6A
Owings Mills, MD 21117
Bus. 888-502-8800
gary@beckerbenefit.com
www.beckerbenefit.com
