Captive Director, Benefit Advisors Network
Mid-market Fully Insured Employers Consider Self Funding
Our Captives team has experience providing reinsurance support through numerous captive facilities for more than twenty different insurance programs that include both employee benefit and property & casualty exposures. Dave Konrad, our Captive Insurance Director, is responsible for the program development, design, structure, sales, and marketing of various P&C and L&H group, single parent, DRP, and other captive programs.
In her USA Today article "Health Law May Hit Midsize Business Hardest," from December 31st, 2013, Staff Writer Jayne O'Donnell outlines why midsize businesses, 50 to 200 employees, are having the most difficult time adapting to health care reform legislation.
Ms. O'Donnell highlights taxes and fees, premium increases and challenges obtaining insurance as the three primary factors contributing to the squeeze being felt by midsize companies and goes on to explain that while some may consider a midsize business as having 50 to 200 employees, for many others, a midsize company can be seen as having over 50 employees (making them too big to qualify as a small business by federal regulation standards) and up to 1,000 or more employees.
The article, which can be read in its entirety here: Health Law May Hit Midsize Business Hardest, clearly supports the argument for Mid-Market fully insured employers to consider self funding in 2014.
From our experience in the Captives Department at the Benefit Advisors Network (BAN), these self insured companies will enjoy more benefits when they become participants in the Mid Market Med Program (a Group Captive facilitated through the Captives Department). For more information about group captives and how our Captive team helps you break away from the uncertainties and expenses of the commercial insurance marketplace, contact your local Benefit Advisors Network Smart Partner or use the contact us form and we'll put you in touch with the appropriate group health plan expert in your area.