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Benefits

Retaining key employees is essential to every business, and a company’s health benefit program is a key part of the compensation they offer to their employees. Due to the rising costs of traditional employer-sponsored health insurance, U.S. employers are steadily dropping those plans in favor of defined contribution health benefits. Rather than paying the costs to provide a specific group health plan, employers might want to consider a self-funded plan.

A self-funded plan can solve the employer’s as well as the employees’ problem related to the cost-effectiveness of healthcare insurance as it has the following benefits over traditional healthcare insurance:

  • The employer can customize the plan to meet the specific health care needs of its workforce, as opposed to purchasing a “one-size-fits-all” insurance policy.
  • The employer maintains control over the health plan reserves, enabling maximization of interest income – income that would be otherwise generated by an insurance carrier through the investment of premium dollars.
  • The employer does not have to pre-pay for coverage, thereby providing for improved cash flow.
  • The employer is not subject to conflicting state health insurance regulations/benefit mandates, as self-insured health plans are regulated under federal law (ERISA). 
  • The employer is not subject to state health insurance premium taxes, which are generally 2-3 percent of the premium’s dollar.
  • The employer is free to contract with the providers or provider network best suited to meet the health care needs of its employees.

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About the CHAMP Plan™

The CHAMP Plan™ is a self-funded, personalized, clinical preventive healthcare program that has been designed to complement an organization’s primary healthcare insurance in such a way that it makes the organization’s healthcare coverage highly cost-effective and beneficial in terms of employee retention and satisfaction rates.

Request a Free Proposal

Requesting a free proposal will give you the complete details of how much your company and your employees can start saving through the CHAMP Plan™.
Reach out to us today for more information!

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