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Fairfax Benefits Consultants Release Guide For Group Stop Loss Captives
Fairfax Benefits Consultants Release Guide For Group Stop Loss Captives
The Fairfax benefits consultants at Business Benefits Group recently published a comprehensive guide to group stop loss captives and self funding insurance, both of which can offer employers more flexibility in managing their health care options.
Fairfax,
Virginia,
United States
(sardnews.org)
04/07/2018
The Fairfax benefits consultants at Business Benefits Group recently published a comprehensive guide to group stop loss captives and self funding insurance. Through self funding insurance, employers cover the claims expenses of each individual employee up to a defined limit per person. In a group stop loss captive, a chosen insurance provider covers expenses over that limit, protecting the company from unforeseen expenses.
Employers who use traditional insurance plans can run into a variety of issues. They may be paying higher insurance fees and taxes than necessary. It may also be difficult to understand these plans, making strategic insurance decisions more complicated. Traditional plans are also limited in the options employees have when selecting their coverage options and care providers. These limiting factors may make self funding insurance a more attractive option for businesses that desire more flexibility in their insurance plans.
Self funding insurance can provide companies with more savings and flexibility than more traditional options. Employers can budget their funds in more ways, and they can also add a leased carrier network to their plan to provide themselves with an extra layer of financial protection. Other benefits of using self funding insurance include lower taxes, increased cash flow, and more easily-understood regulations than those regulating fully funded plans. There are also significant benefits for employees who work for a company that uses self funding insurance plans. Certain plans, for example, allow employees to skip traditional PPO coverage plans, giving them more options when it comes to choosing medical care providers.
The Business Benefits Group consist of Fairfax benefits consultants that can help employers determine what type of self funding plan may be right for them. BBG offers a variety of benefits services, such as plan comparisons, benefits administration technology, benchmarking analysis, custom open enrollment communication, pre-renewal planning, custom benefits packages, and more.
Call a professional benefits consultant to get more information about group stop loss captives and self funding insurance. BBG can be contacted at 844-201-3621 or online at https://www.bbgbroker.com/. The agency is headquartered at 4069 Chain Bridge Road, Top Floor, Fairfax, VA 22030 and serves businesses within the Fairfax area.
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About The Business Benefits Group
The Business Benefits Group provides comprehensive business benefits consulting and other valuable services to organizations of all sizes. The organization’s primary service areas include: benefits consulting, business insurance, executive planning, HR & compliance, retirement plans, international coverage, benefits technology, and wellness solutions.
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