Thanks to our partnership with BAMSL, Insurance Specialists, Inc. (ISI) is pleased to announce a practical alternative to traditional insurance: a Level-Funded Health Plan.
In a Level-Funded Health Plan, the employer funds the insurance coverage by paying premiums to a claims fund rather than to an insurance carrier. A portion of the total premium funds stop-loss reinsurance coverage which caps employer risk. Should claims remain low and the stop-loss coverage not be activated, any residual premium remaining in the claims funds is returned to the employer at the end of the policy year. The Plan is comprehensive, with a portion of the premium funding access to the CIGNA, First Health (Aetna) and PHCS (MultiPlan) national network of physicians and hospitals. Employee health is incentivized through the offer of a Wellness Program which rewards healthy lifestyle choices in reduction of deductibles.
Level-Funded Health Plans fall under ERISA regulations. These guidelines allow inclusion of health questions in the application process, meaning that individualized premiums can be calculated to maximize plan choice and minimize cost for the employer.
Level-Funded Health Plans redirect healthcare dollars to your employees, a critical element in both recruitment and retention of quality talent. Today's worker values employer-sponsored healthcare. Offering a Level-Funded Health Plan will both set you apart as an employer and allow you to rein in expense.
To receive a proposal for your firm, contact ISI today at (800) 241-7753 or email us at firstname.lastname@example.org. Set your sights on 2020 as the year to take back control of your healthcare costs. Through this valuable BAMSL member benefit, you can make that happen day one.
William K. Bass, Jr.