Mitigating risk is just one of the many reasons organizations of all sizes are making the move to InCap, our group health captive. A group health captive puts participants into a pool with thousands of lives, vs. carrying that risk alone.
Think about it this way. Let’s say your organization has 50 or 100 employees they’re insuring. Chances are you are in a fully-funded premium plan. If you have one or two high claimants, your premium costs will most likely soar at your next renewal. (And, conversely, if you have lower than expected claims, the carrier keeps all that savings).) But, if you were in a captive pool with more than 5,000 lives, for example, your risk would be much lower, and your premium costs much lower too. There are other advantages too, including:
- Retention of underwriting profit and investment income
- Data, cost and communications transparency
- Control over plan designs
There is safety in numbers and the numbers speak for themselves. Participants in InCap, our group captive have seen significant savings.
Maybe it’s time you you take the plunge… or at the very least test the waters and determine whether a group captive is a good fit for your organization.