Roundstone records record year
Mike Schroeder, president, Roundstone
Roundstone is distributing $10 million to businesses enrolled in its group medical captive. The Lakewood, Ohio-based firm provides a captive insurance solution for SMEs’ employee health benefits. The distribution is the result of savings from “cost containment and wellness measures” and represents 17% of total premiums in the pool.
The company was founded in 2003 to provide reinsurance for a medical malpractice program and created its first medical captive insurance vehicle in 2005. Last week it was named among the fastest-growing private companies in America by the Inc. 5000 list for the fourth year running – the result of 94% revenue growth and an 80% increase in headcount over the last three years.
Roundstone’s captive provides an alternative to traditional fully-insured and other self-funded options for health insurance. Employers only pay for their use and keep any money left in their claims account and any unspent dollars in the captive pool. It claims to save employers an average of 20% on their medical benefits bill.
“Two-thirds of Roundstone customers save enough in their first four years with us to pay the claims for their entire fifth year, and 100% save money,” said Roundstone’s president Mike Schroeder.
“For employers who must attract and retain employees with great benefits, the need to control health insurance costs over the long term is an imperative. We are committed to helping them, and this latest distribution shows that.”
Roundstone, Employee Health Benefits, Distribution, Captive, Insurance, Reinsurance, Healthcare, Mike Schroeder, North America