US MGU selects administrator for new level-funded product

The United States Managing General Underwriters (US MGU), a national firm specialising in the management of captive insurers, has selected Gilsbar to administer its level-funded health plan option for small employers.

Gilsbar is a privately-held insurance services organisation, which offers self-funded and fully-insured benefit plan management services.

The level-funded plan is a market-driven product that gives smaller employers access to self-funded plan savings, while insulating them from much of the exposure of a traditional self-funded plan.

According to Gilsbar, employers find the level-funded monthly premium equivalent payments and claims process similar to a fully-insured plan, but with more transparency and with the opportunity to recuperate funds if claims experience is lower than expected.

Doug Layman, president of Gilsbar Health and Life, said: “Gilsbar is excited to be working with US MGU to deliver a powerful self-funded solution for the small employer.”

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