Every employer is searching for effective responses to the soaring costs of healthcare. Innovative alternatives and new variations on proven approaches offer pragmatic solutions in the face of these harsh conditions and complex new regulations. BI offers a wide variety of sound, strategic thinking to help you take control of your benefits program with a tailored solution that is best for you and your employees. These solutions include, but are not limited to:
Captive Insurance Solutions
A Captive Insurance Solution (Captive) involves the formation of a member-owned insurance company designed to manage health risks through a comprehensive approach to population health. The Captive is a self-funded solution that gives small to mid-sized employers (50-500) the purchasing power of larger organizations which lowers costs and improves health and well-being. Some of the largest insurance companies today began, essentially as captive insurers for one group of affiliated organizations or another. A captive solution may be an excellent alternative for a group of like-minded entities that share common goals and challenges. BI is an innovator and leader in Captive Solutions. To learn more contact us for a no-obligation conversation. Or learn more about our creative captive solution at Captivated Health!
Consumer Driven Health and Wellness Plans (CDHP)
BI is recognized as one of the nation’s leading authorities on effective design and implementation of CDHP/Wellness. Our principals have been advocates and acknowledged experts on the subject for over a decade. Find out why CDHP is among the fastest growing solutions in America. Please contact us for a no obligation conversation to learn more.
Private Insurance Exchanges
Private Insurance exchanges (PIE) are cafeteria plans with state-of-the-art technology. PIE is an effective strategy for the transition away from defined-benefit (DB) to defined contribution (DC). The electronic interface creates a unique shopping experience for consumers. It enables people to act as health care consumers, choosing from various healthcare benefit plans and complementary insurance products (like disability, life dental, vision, etc.) For many employers they offer an attractive way to empower employees to select and design a plan that best fits their needs and encourages sound consumer driven decisions. These Exchanges offer a private alternative to State and Federal exchanges under the Affordable Care Act (PPACA), and may be an excellent fit for a variety of employers. To learn more, contact us for a no-obligation conversation.
Group purchasing consortiums (such as Multiple Employer Welfare Arrangement or MEWA)
For some employers, joining forces with other large employers (100+) to form a group purchasing consortium (GPC) makes sense. GPC’s can provide access to lower costs through the power of scale. BI is an expert in GPC and when you partner with us you will be provided with the wisest options for your benefits coverage – and one of them could be a GPC if it makes sense. To learn more contact us for a no-obligation conversation.
Self-funded (Administrative Services Only or ASO)
Employers choose a self-funded solution (ASO) because they want total transparency of cost and an attractive balance of control and protection. Under an ASO financing arrangement, the employer assumes the healthcare claims costs of their employees and dependents, mitigates that risk through specific and aggregate re-insurance, and hires a third party to administer the plan. To find out if an ASO solution is a wise choice for your organization, contact us for a no-obligation conversation.
Dividend-eligible or participating arrangements
Dividend Eligible Contracts are attractive to employers who embrace a defined level of risk and responsibility. A participating funding arrangement affords an employer an opportunity to reclaim health insurance premium at the end of a contract year when claims performance meets or exceeds expectations. This risk sharing arrangement can help deliver positive outcomes if the employer is a willing participant in certain risk management techniques. To find out if a Dividend Eligible Solution is a wise choice for your organization, contact us for a no-obligation conversation.
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