Would an increase in cash flow help your business during the pandemic?
For most of our self funded groups, claim expenses were reduced by nearly 40% during the shutdown. With elective surgeries and other procedures being postponed, self funded employers retained money when the livelihood of their business was on the line.
Unfortunately for groups who are fully insured, they still owed the full monthly premium to their health insurance carrier. This is a tough pill to swallow for some groups knowing that claim expenses had been drastically decreased.
This is just an example of the flexibility that self funded platforms can offer. Although claims will start rolling in as procedures are proceeding, self funded employers were able to retain dollars when it was needed the most.
Contact Garrett or Derek to learn more:
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