Let us save you money on your group medical benefits
Your company can save money by creating a customized group insurance plan with First Hill Trust. Whether your company has five employees or five hundred, we take care of them so you can take care of your business.
Self-funded Health Plans
Self-funded plans where instead of paying premiums subject to hefty profit margins and markups, employers fund health care claims via third-party administrators (us).
Why Self-Funded?
- Visibility into Plan Performance: Have visibility into each claim incurred. This enables employers to actively manage costs.
- Increased Control Over Risk: Stop-loss insurance protects against the financial risk of catastrophic claims.
- Additional Protection: Self-Funded plans provide additional protection from large catastrophic medical claims with a stop loss insurance policy.
- Increased Financial Control: Employers pay claims as they occur instead of paying a pre-determined premium to the insurance company.
Level-funded Health Plans
Level-Funded Health Plans are a combination of a fully insured plan and a self-funded plan. Often, using a level-funded plan bridges the gap for employers that would like to evolve from using a fully insured plan to a self-insured plan.
- Fixed Monthly Costs: Your costs don’t change month to month. Level-Funded plans lock in a fixed monthly payment for the plan year, regardless of your actual plan participant medical claims.
- Additional Protection: Level-Funded plans provide additional protection from large catastrophic medical claims with a stop loss insurance policy.
- Claims Paid: When your plan participants go to the doctor, their eligible medical claims are paid straight from the money that was set aside.
- Possible Surplus: Your health plan may get a surplus refund after you renew your plan. If your plan participants have low medical claims, that refund could be substantial.
Fully Insured Plan
A fully insured plan is a group health plan in which the employer or association purchases coverage directly from an insurance company. It is the traditional approach to employee benefits.
- Fixed Monthly Costs: Your costs don’t change month to month. You pay a monthly premium to the carrier, which covers your members' medical claims.
- Claims Paid: You pay a monthly premium to the carrier, which covers your members' medical claims.
- Additional Protection: The potential of high-cost claimants is baked into the premium, so the insurer bears all risk for catastrophic claims.
