As employee healthcare costs continue to rise, you must determine which healthcare plan offers the best quality and cost-efficiency for your business per employee per month. This in turn can help you with recruitment and retention. Discover the solution that may be a great fit for your business.
Lower Employee Healthcare Costs with InCap
As you compare health plan options, it quickly becomes clear that the InCap® health care captive program offers your best opportunity to lower healthcare costs without cutting the quality of your benefits program. Our proven health care captive plan helps you avoid volatile pricing changes. Plus, it helps ensure that your plan meets your specific needs at a price that’s right for you. Here’s how InCap has stacked up from January 2021 to June 2022:
- InCap Medical PEPM (Per Employee Per Month) is running better than the National TPA (Third-Party Administrator) by 36.73%
- InCap RX PEPM is running better than the National TPA by 44.59%
- InCap RX PMPM is running 42.19% below PBM (Pharmacy Benefits Management) cost structure
How Does Captive Insurance Work?
Businesses in a traditional, fully insured healthcare plan must pay a fixed premium for an insurance company to assume risk of any claims. In this scenario, the insurance carrier keeps the money that is not spent every year (profit), while the employer incurs massive increases at renewal if there are many claims on the plan.
Meanwhile, self-insured captive plans provide coverage for, and are controlled by, its owners. Self-insured organizations can save because they mitigate their risk by a large pool of participants. Captive insurance takes advantage of the economies of scale and negotiating strengths inherent in a large census to reduce insurance premiums, lower risk profiles, and optimize tax savings. Plus, captive insurance participants can enjoy the distribution of potential underwriting and investment profits. Click here to learn more about how captive insurance programs work.
Let’s Work on Lowering Your Employee Healthcare Costs
Now, find out more about how our InCap health care program works. Learn how we can help you mitigate risk, dramatically lower your employee health insurance costs, and improve your balance sheet. Let’s talk!