Cost containment and wellness measures contribute to 10% of unspent captive premium dollars returned to employers in July
LAKEWOOD, Ohio, August 25, 2022 /PRNewswire/ — Roundstone, a health insurance provider specializing in self-funded medical group captive solutions, reported a $10.5 million pro rata cash distribution in July to business owners across the nation currently participating in the company’s group medical captive. This figure represents 10% of total premiums in this self-insured captive pool. Having more information and control, the hallmark features of self-funding, helps these employers optimize health plan utilization, which contributes to the overall savings and performance of the pool.
Compared to traditional health insurance with 100% fixed costs, Roundstone’s self-insured solution has only 15% fixed costs. Roundstone’s self-funded employers can leverage data-informed insights and cost-containment strategies to reduce variable spending and receive a distribution of unused premiums each year. With Roundstone, employers only pay for what they use and keep any money left in their claims account and any unspent dollars in the captive pool.
“Employers that are in our group medical captive tend to view health benefits as a strategic long-term business priority,” said Mike Schroeder, President and CEO of Roundstone. “They understand that by being able to take control of this expense, and not shifting too much of the cost burden on employees, they can provide competitive health benefits that attract the best people. We take pride in helping them to improve their organization’s ability to attract and retain top talent, while saving money.”
Hundreds of small to mid-size employers across a multitude of industries are currently enrolled in one of Roundstone’s self-insured group medical captives, saving an average of 20% annually. For more information about how self-funded health plans work and how to get started, please visit: https://roundstoneinsurance.com
About Roundstone Insurance
Roundstone is an innovative insurance organization founded in 2003 with a vision of giving small and mid-size businesses a proven strategy for affordable employee health insurance – our customers pay only for the healthcare they use while keeping the savings. Our unique self-funded group captive solution delivers high-quality care, mitigates risk, reduces claims volatility, controls costs, and returns savings right back to employers and employees– a win-win all around. Roundstone is headquartered in Lakewood, Ohio. Stay connected on our blog, LinkedIn, and Twitter.