October 7, 2020

Level-funding is an innovative type of insurance plan that combines the freedom and money-back benefits of self-funding with the risk protection of fully insured plans. This may mean you can get lower rates than open market pricing.

Our Select Level-Funding Plan – formerly known just as the Select Plan – is now available across 33 states, with over 50 different copay plans and 32 different high-deductible health plans that are eligible for Health Savings Accounts. The program also offers both specific coverage (protecting against high claims from any single individual) and aggregate coverage (protecting against higher-than-expected claims for the entire group).

Here's a quick guide to help you decide what's best for your firm.

 

 

Specific and Aggregate

Aggregate Only

 

Best fit for

Specific stop-loss insurance works best if your organization is concerned with medical costs associated with a specific employee or family member.

In addition, firms are also protected from higher-than-expected claims for the entire group.

Aggregate stop-loss insurance works best if your organization is concerned with overall costs, rather than costs associated with a specific individual employee or family member.

 

How it works

When a specific member’s medical claims exceed a predetermined limit, Unum reimburses the employer for the difference.

You choose a level of acceptable risk per participant and purchase coverage at that amount. (Specific deductible can range from $10K to $50K.)

When overall claims for the group exceed an overall expected level, Unum reimburses the employer for claims greater than the expected level.

When overall claims for the group exceed an overall expected level, Unum reimburses the employer for claims greater than the expected level.

 

Want to see how much your firm might save? Get a quote.

Learn more about the Select Level-Funding Plan. Watch our informational webinar here.