Combining Risk Management and containment services to generate deep savings on insurance spend.
The constant rising cost in medical insurance has brought increased challenges to the middle market. Annual plan renewals pose a dilemma to ownership as they seek to downgrade benefits in order to offset premium increases of 15% or greater. In an effort to stem the tide of increasing cost and offer plan designs which are customized to the needs of their employees, an increasing number of middle market employers have migrated to a self-funded plan. However, self-funded plans often bring numerous administrative challenges which need to be addressed in order to maintain employee satisfaction while still minimizing the cost to the employer.
JAS Solutions is proud to offer a uniquely designed alternative risk Claims Paid liability product. This Claims Paid feature does not recognize losses until after the judgement is rendered and a demand for payment is made. This eliminates the need to maintain a high loss fund or collateralize a claim and minimizes claim reserving. This results in lower fixed cost outlay and when complemented with claims and risk management, the product generates deep cost savings in average of greater than 30%.
Captives are well known self-insured vehicles and have become increasingly popular in the middle market. 831B Captives and corporate owned captives have been developed to assist with claim reserving and long-term strategic planning. Agency owned captives provide competitive products across the book of business.
Implementation of a captive involves many steps, so employers look towards JAS Solutions to advise on the proper structure and coordinate the resources for the supportive services needed.