28 August 2020Accounting & tax analysis

Roundstone pays out $10m to medical group captive members

Roundstone, a Lakewood-based health insurance provider offering self- funded group captive solutions, has made more than $10 million in cash distributions to business owners across the US.

The distributions are in addition to previous payments it has made over the past underwriting year, taking the total amount of surplus distributions to over $20 million.

Roundstone president Mike Schroeder emphasised the challenge of controlling healthcare costs in light of the COVID-19 pandemic.

"Roundstone customers enter our health insurance solution knowing they are saving over their other choices, so this added return from the captive is icing on the cake,” he said. “These premium returns not only add to the savings the employers have already realised when they first joined our health insurance programme, but they validate the proactive cost saving efforts we are able to deliver to our customers throughout the plan year.”

Roundstone provides group medical captives to small to mid-sized employers across a number of industries.