Those who are large enough self-insure, and for small and mid-size companies a captive makes self-insuring possible.
A unique approach to self-funding.
With transparency in mind, CGI Business Solutions has developed a unique approach to self-funding that includes purchasing reinsurance through the Pareto Captive. In addition, our Transparent Health solution focuses on specific segments of your healthcare spend and significantly reduces costs for our clients.
Self-Insurance without the Risk
Employers face the dilemma of containing increasing costs while offering great health insurance coverage to employees. While there are several options, not all will fit your business needs. There are downsides to the traditional models:
- The Fully-Insured Model: Can Come with High Tax Loads & Limited Design Options
- The Level-Funded Model: They Can Charge More / You Pay More. Heads You Tie, Tails You Lose.
- The Self-Insured Model: Undeniable Benefits, but Insurmountable Risk.
Self-insurance saves money. The fear of “risk” often keeps people from self-insuring. Pareto’s captive programs remove the typical risk and volatility associated with large claims. The employer is left with their own smaller claims which they begin to control. The employer has the risk on their smaller claims even if they are fully-insured.
How a Captive Works
“Dan and his team at CGI have been tremendous! Our company moved from fully insured to a partially self-funded captive plan and our company saved hundreds of thousands of dollars! Through detailed analyses, Dan showed us how easy it was to carve out our prescription drug plan saving us over $50K a year on one drug alone! We have several other initiatives now planned including the addition of a robust wellness plan for our employees. We are so glad to be partnered with CGI.”
Joseph (CFO) – Technology