Healthcare reform, increasing costs, lazered coverage and leveraged trends are causing many employers to reconsider their stop-loss options. These include employers who are fully insured considering a move to self-insurance and current self-insured employers.
Healthcare reform mandates have led to many employers to review the cost of their medical insurance programs including funding alternatives and the need for additional stop-loss coverage. Deciding to insure medical stop-loss and fund it in a captive has proven to be a great way for employers who self-fund their health insurance to add a layer of protection from excessively high individual or aggregate health claims and meet ACA requirements.
Medical stop-loss insurance is not considered first dollar health insurance benefit and thus stop-loss captives are not subject to Department of Labor approval in the United States like many benefits are. Also, by funding stop-loss in a captive, an employer gains access to lower-cost reinsurance they might otherwise not be eligible for as a direct purchaser.
This white paper explains how medical stop-loss insurance captives work, the common types of medical stop-loss captives and who should consider one. We hope you find it helpful and enlightening. If you have any questions at all, please don’t hesitate to contact our captive consulting team. All of our contact information is listed on the final page or this paper.
To get your FREE copy of this white paper, please fill out the form below:
While they were once almost exclusively risk funding mechanisms for the largest of corporations, captives have evolved over the years and a suite of captive funding options have been developed to assist businesses of all sizes.
In this paper, we seek to educate you about captive insurance, the history, benefits and the options available to small and mid-sized companies. We will explain what a cell captive is and how it can be an excellent entry point for a company into captive insurance. Finally, we will explore the next steps for your business if you decide that captive funding of your company’s risk might be a good choice and would like to explore it further.
We hope you find this paper helpful and enlightening. If you have any questions at all, please don’t hesitate to contact our captive consulting team. All of our contact information is listed on the final page or this paper.
To get your FREE copy of this white paper, please fill out the form below:
Over the past two decades, the choice to fund a portion of a their risk in a captive has become a more and more popular one for business owners. Whether it be property and casualty risk or employee benefits, employers understand that this funding mechanism, once viewed as an option only for the largest of corporations, is now an option for companies of all sizes and industries.
There is much to be gained from captive risk funding. Some of the most notable and common benefits include:
- Potential short- and long-term savings
- Customized employee benefits designs and property & casualty programs
- Enterprise risk financing applications
- Potential financial efficients like cash flow and insurance
Spring’s captive insurance experts recently teamed up on a helpful new book about captive insurance. In “The Basics of Captives,” we have laid all the information an employer needs to know about captive insurance including:
- Why you would want to consider a captive
- What exactly a captive is
- What captives can cover
- What kind of captives are there and how do they work
- Where captives are domiciled
- How to know if a captive is right for your business
- How to go about establishing a captive
Spring’s award-winning captive team, lead by one of the industry’s top captive leaders, Karin Landry, have designed and built countless captives over the past 25 years including some of the world’s most innovative funding solutions. In this book, they share a little of their experience, along with some of the recent trends they are seeing, in hopes of helping even more businesses save money on and gain control of their risk programs.
To download a FREE copy of this Captive Insurance for Businesses book, just fill out the form below:
Across the United States, a legislative movement to mandate paid sick leave time for all employees has picked up significant momentum over the past couple of years. With a number of states, municipalities and even the President advocating for these new mandates, it is important that employers know how these changes impact them.
At a recent Disability Management Employer Coalition event, Spring partner Teri Weber gave the presentation below on paid sick leave laws with fellow industry experts Geoffrey Simpson from Presagia and Mike Soltis from jackson lewis.
We hope you find this slidedeck helpful and please don’t hesitate to reach out to contact us with any questions about paid sick leave laws or anything related to leave management.
Spring Senior Partner John Cassell recently organized and participated in a session at the Captive Insurance Companies Association (CICA) annual conference titled Developing the Operational Strategy of Managing Medical Stop Loss in Your Captive. Cassell was joined by co-presenters Stephen Hannabury, President of Educators Health Insurance Exchange of New England and Jesse Crary, an attorney from Primmer Piper Eggleston & Cramer PC.
See also: Spring’s Guide to Medical Stop Loss in a Captive (White Paper)
The CICA session focused on Ed Health, a medical stop loss group captive consisting of 11 Boston-area colleges that Spring assisted in the development of. The slidedeck below, which was used in the presentation, details Ed Health’s success to date and lessons learned through the development and ongoing management of a medical stop loss group captive.
We hope you find this deck helpful and please don’t hesitate to reach out to John using the form below with any questions about group captives and/or medical stop loss in captives.
[updated November 2018]
2018 has been a busy, productive year in paid leave law changes. As of November, 11 states, 35 jurisdictions, Washington D.C. and Puerto Rico have all enacted paid sick leave laws, with others on the way to following suit. In 2017, a law was passed that enables employers who provide paid family and medical leave to benefit from a tax credit. This regulation gives even more incentive to companies to introduce varying types of paid leave types.
In our updatedwhite paper, consultants from Spring’s Integrated Disability Management team review legislative acts, across the country related to sick leave to date and discusses the implications for employers and service providers alike. Policies are broken down by state and region, so you can be sure to know what’s going on in different areas of the country.
You can get your copy of this helpful FREE paid leave white paper by filling out the form below and pressing “Submit & Download Paper.”
Photo by StockMonkeys.com
1 “New York State Paid Family Leave.” New York State, 11 Aug. 2017, www.ny.gov/programs/new-york-state-paid-family-leave. Accessed 11 Sept. 2017.
Here is our heath care reform update for the week of October 19-25, 2014.
This week, Spring Insurance Group’s CEO, George Gonser, discusses the Cadillac Tax and what it means to employers. As always, if you have any questions at all about the Cadillac Tax, or anything related to healthcare reform, please do not hesitate to contact us.
Recently, Spring Consultants Karen English and Kimberly Mashburn presented at the annual ISCEBS conference. They explore how Disability Management has been impacted by recent US health care changes brought on by the implementation of the Affordable Care Act (ACA).