Program Description
A group of employers that come together to form a captive insurance company and share in the risk and reward of their own Health Insurance program. The captive members decide who is eligible to participate in the program and what they have to do to maintain their eligibility once they get into the program.
Highlights:
- This program is ERISA compliant and available in all 50 states.
- Access to virtually every major National Network
- Share in the Profits of your insurance company
- Any employer with 10 employees or more are eligible.
- Profits/Surplus of the Captive are returned to the members
Minimum Requirements:
- Must have an eligible pool of 2000+ potential employees participating in the plan or more.
- Must have come together for reasons other than the purchase of insurance. Good examples are:
- IndustryAssociations
- Franchisees
- Dealerships
- Employers must have (5) participating employees on the plan to join.
- Funding Requirements: (each group)
- Collateral
- Each account will be charged to 125% of Expected in order to Fully Fund the
program the first year.
- The additional 25% will roll to the next year as collateral if it has not been used to
pay claims.
- If some or all of it has been used to pay claims, the client will have to fund the
"GAP" again.
- Utilize a Vermont domiciled captive
- Utilize the proprietary Trust design as developed by Benefit Captive Re.
Available Options: (some of these options will exclude certain networks)
- Utilize an A rated Fronting carrier
- Utilize multiple national and regional networks if necessary
- Each Group can use their own TPA and preferred network
- Use of a third party to fund the entire program is acceptable
- Use of an off shore captive is acceptable as well.
- The program can only write Stop Loss if required
- The program can only write Aggregate Only if required
*The programs are very flexible and will work for just about any size group or program design necessary. For groups that are national and want to use the Blues network, it is necessary to meet all of the above listed Minimum Requirements.
