Health insurance For Small Businesses
Small Business Health Insurance Challenges
Small business health insurance can come with its challenges. From unexpected premium changes to impersonal plans, traditional insurance options might not support your team’s needs the way they should. You might even opt out of insurance options altogether for the sake of your budget. The decision not to offer an employee benefits package can really hurt your strategy to recruit and retain top talent in your industry. What’s an employer to do?
At Roundstone, we make health insurance for small businesses possible. Self-funded captive insurance gives you the control and personalization you want without the rising premiums.
A Self-Funded Insurance Solution
Self-funded insurance, also called a self-insured plan, means you pay for your employees’ health claims rather than paying a fixed premium to a carrier for a fully-insured health plan. A claims management company called a Third-Party Administrator (TPA) provides administrative services like payment management, underwriting, and program development – so you don’t have to worry about a thing.
We offer a type of self-funded insurance called a group captive to small and midsize businesses with 25 or more employees. We help you budget effectively for your expected healthcare consumption. The group captive is a shared-risk model; you are banded together with over 600 small and midsize businesses, each contributing a portion of premium to the pool. Rather than accepting all the risk yourself, you share it with other businesses that are also looking to reduce their risk.
The Benefits of Self-Funded Captive Insurance
With Roundstone Insurance, you can enjoy advantages like:
Instead of 100% fixed costs like a fully insured plan offers, self-funded captive insurance drops your fixed costs down to about 15% of your total healthcare spend. This means that 85% of your costs are now variable, and a variable cost is a cost you can actively work to contain. Your risk is shared with other employers in the captive pool, and you only pay for the healthcare your enrolled employees use.
We help you design and maintain a health plan that works for your employees. We work with your benefits advisor to do so. Our Cost Saving Investigators (aka the CSI Team) analyze your data to provide plan optimization recommendations that can boost your savings even more.
Leave behind the “one-size-fits-all” policies — Roundstone lets you design your plan however you need. Choose your own best-in-class third-party administrator (TPA), Pharmaceutical Benefits Manager (PBM), and cost-containment vendors. We pull it together in one simple "bundle" so your solution is easy to manage.
At the end of the year, you keep 100% of what you don't use in your own claims account. And you get cash back from any unspent premium in the pool. Our approach helps employers save anywhere from 20% to 30% of their healthcare expenses annually.
Get Health Insurance for Your Small Business Today
At Roundstone Insurance, we created the first medical group captive of its kind to meet the needs of small business entrepreneurs looking for affordable and personalized employee healthcare plans. Our self-funded captive health insurance gives you more freedom while offering support when you need it most.
To learn more and see if you’re a good fit, contact us online, call 440-617-0333, or view our resources to get started
Medical Captive FAQs
Find out everything you want to know about our Group Medical Captive