Earlier this month, USHL launched its new SafeGuard Self-Funding program-- simple, seamless self-funded coverage for groups with 10 to 99 employees seeking an alternative to costly insured coverage.
USHL Vice President of Sales and Underwriting Mike McCollom stated that SafeGuard is off to a strong start during its first month of availability.
"The development of SafeGuard was a direct response to the desire among our groups and agents for a self-funded option that would feel and function like USHL coverage pre-PPACA," McCollom said. "The underwritten rates for SafeGuard are proving to be very competitive, and the product's reception in the marketplace has been very positive due to the simple, streamlined approach to quoting, setup and monthly billing."
An overview of the SafeGuard Self-Funding program:
Simple Selections, Solid Plans The selection process is simple: The employer selects either a traditional plan or high deductible health plan (HDHP), then a deductible, member-share percentage and prescription coverage (with traditional plans), and that's it. The remaining plan details are in place and mirror coverages which have been enjoyed by thousands of USHL groups for more than a decade. View the SafeGuard Self-Funding plan summary here.
No Administrative Burden A staff of more than 170 professionals stand behind the SafeGuard Self-Funding plans, providing all required administrative services- from claims adjudication and provider payments, to network coordination, claims dispute resolution and member communication.
No Fluctuation in Plan Cost USHL SafeGuard Self-Funding requires that the employer makes one monthly payment, comprised of an administrative fee, excess loss insurance premium and a pre-funded claims account payment. This monthly payment is determined at the time of underwriting, and only changes based on fluctuations in enrollment.
Protection Against Unexpected Claims The employer will not owe more than the monthly payment-- if a claim exceeds funds available in the pre-funded claims account, the balance is paid from either an aggregate advancement or an excess loss insurance payment, or both.
A Chance to Save Money USHL SafeGuard Self-Funding offers employers the ability to regain control of their healthcare benefit costs. If, at the time of settlement, the pre-funded claims account balance has not been spent on group claims and the incurred but not reported (IBNR) estimate, USHL returns to the employer any surplus funds remaining.
SafeGuard is available now for groups located in Michigan, Indiana and Ohio; availability will follow for Illinois, and Wisconsin, with rollouts in additional states expected.
Agents wishing to submit quote requests for Michigan, Indiana or Ohio groups can download a SafeGuard quote request form here, or contact USHL Sales Support for assistance at 844-828-5968.
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