Roundstone Insurance has launched a new programme, called Mid-Market Med, which is intended to leverage the strengths of wellness initiatives, self-funding and captive insurance, while simultaneously addressing their shortcomings.
Mid-Market Med enables employers to pool their risks and leverage their numbers by forming a group captive. The programme provides smaller companies with access to the benefits of a captive without the risk or costs. Emphasis is placed on a wellness programme, which is highly incentivised to encourage employee participation.
Roundstone explains that well-run wellness programmes help reduce claims and healthcare costs by reducing illnesses that result from lifestyle choices. The Mid-Market Med programme is designed to place approximately 75 percent of an employer's healthcare spend under the control of the employer, the same percentage, according to the Centre for Disease Control and Prevention, of diseases linked to poor lifestyle choices.
Roundstone is counting on these facts adding up to an obvious conclusion: that a well-executed wellness programme can have a dramatic impact on healthcare costs, but only if you self-fund at meaningful levels.
Roundstone, wellness, captive insurance