{"id":15628,"date":"2021-09-16T16:10:08","date_gmt":"2021-09-16T20:10:08","guid":{"rendered":"https:\/\/roundstoneinsurance.com\/?p=15628"},"modified":"2022-12-14T07:29:03","modified_gmt":"2022-12-14T12:29:03","slug":"self-funded-doesnt-mean-youre-on-your-own","status":"publish","type":"post","link":"https:\/\/roundstoneinsurance.com\/excelsior\/blog\/self-funded-doesnt-mean-youre-on-your-own\/","title":{"rendered":"Self-Funded Doesn&#8217;t Mean You&#8217;re On Your Own"},"content":{"rendered":"\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>Highlights<\/strong><\/p>\n\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container is-layout-flow wp-block-group-is-layout-flow\">\n<p>&#8211; <span style=\"font-size: revert; color: initial;\">Captive insurance is a more flexible form of self-funded insurance that can help prevent you from passing increasing costs on to your employees.<\/span><\/p>\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>&#8211; Roundstone is a trusted partner in developing captive insurance plans to meet your specific needs.<\/p>\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>&#8211; We value data transparency while ensuring HIPAA compliance. The Roundstone CSI (cost saving investigators) team can help your company save money, as we have for many other small to midsize businesses.<\/p>\n<\/div><\/div>\n\n\n\n<div style=\"height:50px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<div style=\"height:50px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Insurance costs are rising faster than inflation, and small to midsize businesses have struggled to keep up. Companies are forced to pass rising costs to their employees through high deductibles and premium increases to stay profitable.<\/p>\n\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Unfortunately, since wages have not increased at the same rate, this means employees are bringing home less pay, which negatively impacts your ability to <a href=\"https:\/\/roundstoneinsurance.com\/excelsior\/blog\/its-hiring-season-how-are-you-attracting-top-talent\/\">hire and retain the top-tier talent<\/a> your business relies on.<\/p>\n\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Fortunately, there is a solution to help you provide high-quality benefits to your employees without impacting your budget: Ditch the traditional health insurance model in favor of self-funded group captive insurance.<\/p>\n\n\n\n<div style=\"height:50px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Group Captive Insurance: A More Flexible Option for Small Business Health Insurance<\/strong><\/h2>\n\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Captive insurance, a type of self-funded insurance, gives you the flexibility to control coverage plans, costs, vendors, structure, and service providers based on the needs of your employees.<\/p>\n\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Fully insured insurance carriers offer a one-size-fits-all plan approach. Unfortunately, these plans don\u2019t make sense for many small business healthcare options, which means you pay higher costs every year for benefits your employees don\u2019t use. A group captive insurance plan can save your small business up to 20% on health insurance costs each year.<\/p>\n\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Fully insured insurance carriers raise your rates every year, but unlike other company expenses, you don\u2019t have access to the information you need to understand why that rate hike happened. You have no power to control the cost of traditional health insurance, which is typically a top-three business expense in your budget.<\/p>\n\n\n\n<div style=\"height:50px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>How Roundstone\u2019s Group Captive Insurance is Different<\/strong><\/h2>\n\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignleft\"><img fetchpriority=\"high\" decoding=\"async\" width=\"660\" height=\"440\" src=\"https:\/\/roundstoneinsurance.com\/excelsior\/wp-content\/uploads\/2021\/09\/time-for-change.jpeg\" alt=\"Time for change\" class=\"wp-image-15629\" srcset=\"https:\/\/roundstoneinsurance.com\/excelsior\/wp-content\/uploads\/2021\/09\/time-for-change.jpeg 660w, https:\/\/roundstoneinsurance.com\/excelsior\/wp-content\/uploads\/2021\/09\/time-for-change-300x200.jpeg 300w\" sizes=\"(max-width: 660px) 100vw, 660px\" \/><\/figure><\/div>\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Roundstone is proud to be <a href=\"https:\/\/roundstoneinsurance.com\/excelsior\/blog\/roundstone-named-an-inc-5000-company-for-fourth-year-running\/\">one of Inc. 5000\u2019s fastest-growing businesses<\/a> for four years in a row. We believe our commitment to sensational customer service and helping businesses like yours take control of their health insurance expenses will continue to help us lead a healthcare revolution.<\/p>\n\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Simply put, we believe everyone should have access to affordable healthcare. As a member of our group captive insurance program, we guarantee you will save money over the long term. Roundstone\u2019s captive plans allow you to choose the best plan for your employees based on quantifiable data. We want you to know where every dollar you spend on healthcare coverage goes.<\/p>\n\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Our exceptional customer service Relationship Managers work hard to get you the coverage you need at an affordable price. What\u2019s more, we get your unspent funds back to you each year so you can continue to invest in your business instead of lining the pockets of health insurance executives.<\/p>\n\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>And we make it easy. You may think that implementing self-funded captive insurance means you are solely responsible for managing all aspects of your insurance plan, but <a href=\"https:\/\/roundstoneinsurance.com\/excelsior\/employers\/\">at Roundstone, you\u2019re never alone<\/a>. As a midsize business, we know you need more than an insurance provider; you need a trusted partner who understands your needs and has your back.<\/p>\n\n\n\n<div style=\"height:50px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Data Transparency Makes Roundstone Unique<\/strong><\/h2>\n\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignleft\"><img decoding=\"async\" width=\"660\" height=\"440\" src=\"https:\/\/roundstoneinsurance.com\/excelsior\/wp-content\/uploads\/2021\/09\/typing-on-a-tablet.jpeg\" alt=\"Typing on a tablet\" class=\"wp-image-15630\" srcset=\"https:\/\/roundstoneinsurance.com\/excelsior\/wp-content\/uploads\/2021\/09\/typing-on-a-tablet.jpeg 660w, https:\/\/roundstoneinsurance.com\/excelsior\/wp-content\/uploads\/2021\/09\/typing-on-a-tablet-300x200.jpeg 300w\" sizes=\"(max-width: 660px) 100vw, 660px\" \/><\/figure><\/div>\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>It seems like everything is data-driven these days \u2014 except health insurance. We all know traditional health insurance companies have access to thousands, if not millions, of data points, creating a paper trail for every medical expense.<\/p>\n\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>You know they have the data you need to make informed decisions about your health insurance plans. But none of the big insurance companies shares any of those findings with you. <a href=\"https:\/\/www.cms.gov\/newsroom\/fact-sheets\/transparency-coverage-final-rule-fact-sheet-cms-9915-f\">Government-mandated changes are on the horizon<\/a>, but in the meantime, what can you do?<\/p>\n\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>At Roundstone, we believe data should be transparent, and not a single change to your plan should happen without your understanding exactly why. That\u2019s why we put data in your hands.<\/p>\n\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>We pride ourselves on providing you with precise, actionable data benchmarked to national standards for easy comparison. Your automated monthly report is HIPAA-compliant and completely anonymized so you can review it anywhere \u2014 from the privacy of your office to the relaxed atmosphere of a coffee shop.<\/p>\n\n\n\n<div style=\"height:50px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Our CSI Team Works for You<\/strong><\/h2>\n\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>We know data can be overwhelming if you don\u2019t fully understand it, so our <a href=\"https:\/\/roundstoneinsurance.com\/excelsior\/roundstone-csi-dashboard\/\">Cost Saving Investigators (CSI) team<\/a> is available to help. Our cost-containment specialists sift through the data on your Dashboard, helping you find potential savings.<\/p>\n\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>But the CSI team isn\u2019t just searching for the cheapest option possible. They know the level of care matters, too, so they also vet providers and help you implement changes to find the perfect balance of coverage and affordability.<\/p>\n\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Unlike some other insurance providers, we are proud to have talented registered nurses on our CSI team. Nurses are uniquely qualified to help you cut costs while promoting health benefits through efficient plan implementation. They also understand the role of proactive treatment to keep conditions from escalating.<\/p>\n\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>See our blog post \u201c<a href=\"https:\/\/roundstoneinsurance.com\/excelsior\/blog\/the-evolving-role-of-nursing-for-improving-cost-containment-quality-of-care-and-patient-outcomes\/\">The Evolving Role of Nursing for Improving Cost Containment in Healthcare<\/a>\u201d to learn more about the importance of including nurses in the health insurance conversation.<\/p>\n\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignleft\"><img decoding=\"async\" width=\"660\" height=\"440\" src=\"https:\/\/roundstoneinsurance.com\/excelsior\/wp-content\/uploads\/2021\/09\/stacks-of-coin.jpeg\" alt=\"Stacks of coin\" class=\"wp-image-15631\" srcset=\"https:\/\/roundstoneinsurance.com\/excelsior\/wp-content\/uploads\/2021\/09\/stacks-of-coin.jpeg 660w, https:\/\/roundstoneinsurance.com\/excelsior\/wp-content\/uploads\/2021\/09\/stacks-of-coin-300x200.jpeg 300w\" sizes=\"(max-width: 660px) 100vw, 660px\" \/><\/figure><\/div>\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>The CSI team at Roundstone can also help you navigate the claims adjudication process, sourcing additional information to submit in support of your claim to ensure your employees get reimbursement for medical costs.<\/p>\n\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Our CSI team has helped the businesses that work with us save money in several ways, including:<\/p>\n\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>&#8211; Implementing <a href=\"https:\/\/roundstoneinsurance.com\/excelsior\/blog\/well-being-programs-promote-long-term-savings-on-health-care-costs\/\">well-being programs<\/a> to help employees stay healthy (and protect against larger future claims)<\/p>\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>&#8211; Reducing prescription costs through alternate Pharmacy Benefits Managers (PBMs &#8211; <a href=\"https:\/\/roundstoneinsurance.com\/excelsior\/blog\/pharmacy-benefit-managers-your-self-funded-plans-secret-weapon\/\">your self-funded plan\u2019s secret weapon<\/a>), who offer the same services at a lower cost<\/p>\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>&#8211; Initiating case management programs for chronic diseases to keep people out of the emergency room<\/p>\n\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Our CSI team helped the businesses we worked with <a href=\"https:\/\/roundstoneinsurance.com\/excelsior\/blog\/roundstone-distributes-10-million-of-savings\/\">save 17% of their premium pool<\/a> last year, allowing us to return nearly $10 million to them to invest in their businesses.<\/p>\n\n\n\n<div style=\"height:50px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Roundstone\u2019s Turnkey Solution Makes Switching Easy<\/strong><\/h2>\n\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>One of the biggest reasons business owners don\u2019t switch to captive health insurance is they think it\u2019s too complicated. They\u2019d prefer to stay in a situation where they have no control and lose money because they aren\u2019t health insurance experts. This can hurt your business in the long run, wasting precious dollars you could have channeled into growing your company.<\/p>\n\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><a href=\"https:\/\/roundstoneinsurance.com\/excelsior\/blog\/why-the-switch-to-self-funded-health-insurance-is-easy\/\">Switching is easier than you think<\/a>. Working with Roundstone means you have a team of people ready to help you at any moment so you can make the best decisions possible for your employees\u2019 health and your bottom line simultaneously, an unfamiliar concept with fully insured insurance plans.<\/p>\n\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Since we were founded in 2003, Roundstone has worked hard to assemble a talented team of insurance and medical experts to help you with any service you could need. Your support team includes experts in:<\/p>\n\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>&#8211; Underwriting<\/p>\n\n\n\n<p>&#8211; Risk management<\/p>\n\n\n\n<p>&#8211; Accounting<\/p>\n\n\n\n<p>&#8211; Regulations<\/p>\n\n\n\n<p>&#8211; Clinical care<\/p>\n\n\n\n<p>&#8211; Cost containment<\/p>\n\n\n\n<p>&#8211; Data and analytics<\/p>\n\n\n\n<p>&#8211; Claims management<\/p>\n\n\n\n<p>&#8211; Reinsurance<\/p>\n\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>What does this mean for your business? It means our dedicated onboarding team makes switching to Roundstone just as easy as sticking with your current insurance provider.<\/p>\n\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Since everything you need is under one roof, you can transition to Roundstone without interrupting your coverage. Our Relationship Managers guide you through every step of the process, answering questions you may have about your coverage options. Think of them as your personal support squad, ready to help you at any time.<\/p>\n\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Our underwriters help you create a plan that suits your unique needs. You can start from scratch, or you can base your plan around the one you already have but add what\u2019s missing and cut what\u2019s unnecessary.<\/p>\n\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Developing a <a href=\"https:\/\/roundstoneinsurance.com\/excelsior\/blog\/it-pays-to-be-flexible\/\">flexible insurance policy<\/a> is made easy when you have the incredible support of Roundstone\u2019s Relationship Managers helping you navigate the process.<\/p>\n\n\n\n<div style=\"height:50px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Let\u2019s Get Started!<\/strong><\/h2>\n\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Don\u2019t stay at the mercy of your fully insured health insurance provider, passing increased costs on to your employees year after year. Download our free checklist Is Your Company a Good Fit for Group Captive Health Insurance?, or <a href=\"https:\/\/roundstoneinsurance.com\/excelsior\/contact-us\/\">request a proposal<\/a> and benchmark review today to start your road to freedom from fully insured health insurance practices.<\/p>\n\n\n\n<div style=\"height:50px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"elementor-heading-title elementor-size-default has-medium-font-size\"><strong>Want to find out if you&#8217;re a good fit for a self-funded plan? Our NEW Checklist helps you decide.<\/strong><\/p>\n\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><a class=\"wp-block-button__link has-white-color has-text-color has-background no-border-radius\" style=\"background-color: #dd8a61; text-decoration: none;\" href=\"https:\/\/roundstoneinsurance.com\/excelsior\/wp-content\/uploads\/2021\/09\/Is-Your-Company-a-Good-Candidate-for-Group-Captive-Insurance-Checklist.pdf\" target=\"_blank\" rel=\"noopener\"><strong><span class=\"has-inline-color has-white-color\">Download Now<\/span><\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p class=\"excerpt\">Highlights &#8211; Captive insurance is a more flexible form of self-funded insurance that can help prevent you from passing increasing costs on to your employees. &#8211; Roundstone is a trusted partner in developing captive insurance plans to meet your specific needs. &#8211; We value data transparency while ensuring HIPAA compliance. The Roundstone CSI (cost saving [&hellip;]<\/p>\n","protected":false},"author":27,"featured_media":15632,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1827],"tags":[],"class_list":["post-15628","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-employers"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v25.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>You Are Not On Your Own With Self Funding | Roundstone<\/title>\n<meta name=\"description\" content=\"Choosing a Roundstone self-funded group captive insurance plan connects you with an entire team ready to help you contain costs.\" \/>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" 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