Taking care of your most valuable assets
The rising costs of health care makes a proactive, cost-effective and easy-to-understand employee benefits program more important than ever before.
Our experienced team works with you to complete a total assessment of your needs and designs a customized plan with solutions such as:
- Self-funded and partially self-funded programs
- Group Captive Programs
- Fully-insured and level-funded programs
- Consumer-driven health plans
- Wellness and disease management
- Ancillary Programs
With increased cost and regulations of health insurance, many employers feel frustrated with diminished control, and feel overwhelmed by skyrocketing premiums. You care about your employees’ well-being, and want to provide them with affordable and effective benefits packages, yet the increased expenses and regulations are making it more difficult to do so. The lack of transparency and inability to view your claims data make it impossible to effectively contain costs and implement targeted programs to mitigate losses.
Employers have an alternative: Self-Funding.
In a traditional Fully Insured plan, employers pay a pre-determined premium to an insurance carrier, based on number of employees enrolled. Premium rates are set by the carrier, are typically inflated and increase annually. If you perform poorly you are left staring at a huge increase every 12 months; and if you perform well you’re still looking at an increase from your carrier. It often feels like a “no-win” situation.
Self-Funded plans provide the best opportunity for containing costs and taking control. In a Self-Funded (or Self-Insured) plan, the employer only pays for claims if and when they actually occur. Built-in safeguards protect against catastrophic loss, and you will have access to actual claim data which helps determine how to implement targeted cost containment strategies.
Thomas McGee Group has been Self-Funded for more than 20 years and we’re extremely satisfied with the results. The increased control allows us to continually refine our strategies and services to the latest, most cost-effective techniques available. Our company saves money on premiums (we have had 10 years with no increase to our overall health care spend), and we’re able to pass the savings onto our employees through premium holidays, and a competitive health plan.
Contact us for more information.