Level-funded plans offer an alternative approach for small employers
Level-funded plans are gaining traction among businesses with 3 to 100 employees, and for good reason. If your business has generally healthy employees, these types of plans can lower premiums and provide a surplus refund when claims are lower than expected.
BlueEdge level-funded plans offer flexibility and predictability, and can be viewed as a midway approach to a self-funded arrangement. They are different from traditional ACA plans in that they reflect your group’s experience, rather than the entire small group market.
If you are considering a level-funded plan for your employer group, here are a few strategies that will help you contain costs, and make the most of your health care dollars:
- Get the numbers. Talk to a Blue Cross and Blue Shield of Kansas sales rep to determine if your group is a good fit for a level-funded plan. We can evaluate your maximum claims risk, and give you an idea of how much you can expect in potential savings.
- Promote a health and wellness program. With a level-funded plan, it’s to your advantage to help your employees and their families play an active role in their health. Blue Cross and Blue Shield of Kansas has a variety of health and wellness tools and resources you can use to help your employees on the road to good health, including smoking cessation, maternity care, stress management and disease management.
- Offer dental benefits. Many people visit the dentist more regularly than their own doctor. Dental hygienists and dentists are often the first to uncover symptoms of disease, such as heart disease or diabetes. By adding routine dental benefits to your employee benefit package, you’ll provide easy access to dental care, which has the potential to reduce costs on your medical premiums.
- Promote virtual care. Seeing a doctor online is often more convenient and affordable than an office visit or a trip to urgent care. Virtual care, or telehealth, is here to stay, as the pandemic pushed it into the mainstream. Talk to an account representative for more information about virtual care options for your employees.
- Monitor your data. Level-funded plans include data and touchpoints along the way, that you can use to track health care usage. You can use this data to guide your decision-making, and make sure it’s the right choice for your business.
Let us help. Browse our BlueEdge level-funded plans and talk to one of our Sales Consultants to see if it’s the right plan for you and your employees. You can call us at 866-481-5783, Monday through Friday, 8 a.m. to 4:30 p.m., or email your questions to firstname.lastname@example.org.