30 September 2014Actuarial & underwriting

PrimaCare launches group medical captive

US-based care network PrimaCare Direct has launched a group medical captive to deliver healthcare solutions.

PrimaCare Direct Employer Captive will allow employers to form their own insurance facility and self-insure affordably with limited volatility.

The captive is being managed and underwritten by Roundstone Management of Westlake, Ohio.

PrimaCare said the additional benefits of a group medical captive include transparency and control over claims, access to specialty service providers, inclusion of specialty clinic bundled rates along with reduced pharmaceutical costs, including rebates sent to the employers rather than insurance companies.

“This new healthcare purchasing alternative can really help out the small to midsize employer,” said Matt Brandt, chief executive officer of PrimaCare Direct. “By combining Direct Primary Care with Roundstone’s group medical captive, we can ensure long term healthcare cost control and return almost all of the savings back to the employer.

Gene Pompili, Roundstone’s senior vice president of sales, added: "Roundstone is excited to be partnering with PrimaCare for the launch of their insurance program. We believe their unique health care delivery system is a great fit with our self-funded medical captive. Everyone's incentives are aligned which should make for very efficient health care delivery."