7 April 2021Actuarial & underwriting

Triton Benefits and HR Solutions launches medical group captive

Triton Benefits and HR Solutions, a US-based employee benefits broker and human resources consultant, with offices in New Jersey, New York, Texas, and Philadelphia, has launched a captive insurance programme.

The programme allows employers to combine employees claims experience with other like-minded businesses to control medical insurance costs, using analytics to help employers align their needs with the best healthcare plan options and budget.

It targets organisations with up to 5,000 employees, and provides plans that are licensed and protected by the Department of Insurance, while also ensuring employers are exempt from ACA surcharges and tax on insurance premiums. It provides insurance options from a number of reinsurers and access to the networks of United Healthcare, Aetna and Cigna.

David Zilberman, chief financial officer at MLD Mortgage, emphasised the importance of the provision of healthcare options for its employees. “Triton recommended a self-funded benefit plan that was more comprehensive than what we previously had, and it’s proved to be ideal for all our employees,” he said.

Steve Rosenthal, president and chief executive officer of Triton Benefits and HR Solutions, said: “Organisations from different industries have leveraged captive health insurance programmes to reduce costs, lower their risk, and provide financial flexibility and control, especially as they navigate through the COVID-19 pandemic.”