funding medical stop -loss in captives medical stop -loss in captives ... employee benefits may be...

FundingMedicalStop-LossinCaptivesWhatYouNeedtoKnow

w w w . S p r i n g G r o u p . c o m

2 Copyright©Spring2016

TableofContentsABriefExplanationofCaptiveInsurance......................................................................3WhatisaCaptive?......................................................................................................................................................3HistoryandGrowthofCaptives..........................................................................................................................3

EmployeeBenefits.......................................................................................................4DevelopmentsinEmployeeBenefits.................................................................................................................4UsingaCaptivetoFundEmployeeBenefits...................................................................................................4AdvantagesofPlacingEmployeeBenefitsinCaptives..............................................................................6EmployeeBenefitFundingOpportunities......................................................................................................7

MedicalStop-LossCaptiveFunding..............................................................................8HowMedicalStop-LossCaptiveFundingWorks.........................................................................................8CommonTypesofStop-LossCaptives...........................................................................................................11Single-ParentCaptives..........................................................................................................................................11GroupCaptives..........................................................................................................................................................11

WhoShouldConsiderMedicalStop-LossCaptiveFunding?................................................................12

CellCaptives:TheRightFitforManyMid-SizedBusinessesforMedicalStop-LossFunding......................................................................................................................13WhatisaCellCaptive?..........................................................................................................................................13WhataretheBenefitstoaCellCaptive.........................................................................................................13IsaPCCrightforyou?...........................................................................................................................................14

SpringCaseStudy:GroupMedicalStop-LossCaptiveHelpsEducationalInstitutionsControlHealthInsuranceCosts..................................................................................15

AboutSpring..............................................................................................................17OurUniqueExpertise............................................................................................................................................17

What’sNext?.............................................................................................................19ContactInformation..............................................................................................................................................19


ABriefExplanationofCaptiveInsurance

WhatisaCaptive?Acaptiveisaninsuranceorreinsurancecompany,establishedspecificallytoinsureorreinsuretherisksofitsowner,alsoknownasitsparentcompanyorcompanies.Insomecases,captivesarealsousedtoinsuretherisksofthirdparties,similartocommercialinsurers.Overthecourseoftime,captiveshaveevolvedtocovermorethanparentalrisks,nowcoveringgroups,associations,thirdparties,likeemployersandmore.

HistoryandGrowthofCaptivesCaptives developed in the late 1800s when a group of New England textilemanufacturerswerelookingforawaytohelpmitigaterisingfireinsurancerates.1Then in the 1900s, companies began looking for better tax advantages and fewerrestrictions,leadingtothefirstoffshorecaptives.Inthe1960s,mutualassociationsdeveloped,allowingorganizationstofundrisksbypoolingwithsimilarcompanies.2Captiveinsurancegrowthsurgedinthe1970sand1980s,whenthepropertyandcasualtymarkethardened,leadingtoincreasedcosts.The total number of captive insurance companies grew from100 in the 1960s to1,000inthe1980s.3Thenumberof captive insurance companies continues to rise. In2016, thereareover 6,400 captives worldwide(not counting individual cells within cellcompanies),4upfrom5,525in2009.About80%oftheStandardandPoor500(S&P500)companiesownoneormorecaptiveinsurancecompanies.5Throughout the United States, captive domiciles are revising andmodifying theirlegislation tobetteraccommodateemployers’ evolvingneeds. Forexample,manydomiciles are refining their requirements for establishing cell captives, andmanyareopeninguptonewlinesofcoverage,suchasemployeebenefits.Today,over30statesallowtheestablishmentofcaptiveinsurancecompanies.

1RosemaryM.McAndrew,“Captives:HeretoStay,”TheJohnLinerReview14(2000)2RogerCrombie,“TheBermudaMarketat60,”BermudaRe/insurance,November2007:9-143McAndrew4“6,408isthemagicnumber”CaptiveReview,,CaptiveReview.com,2/23/16.<http://captivereview.com/features/captive-review-march-edition-2/>5“OffshoreCorporation,”OffshoreCaptiveInsuranceCompanyFormation,<http://www.offshorecorporation.com/captive-insurance>


EmployeeBenefits

DevelopmentsinEmployeeBenefitsFormostcompanies,employeebenefitsrepresentasignificantfinancialinvestment.As every human resources director knows, the costs of employee benefits, healthinsuranceinparticular,havedramaticallyincreasedoverthelastdecade.Employeebenefitcostscancompriseasmuchas40%ofacompany’stotalpayroll,which makes the recent trend towards self-funding benefits understandable.Companies of all sizes are quickly realizing the financial, administrative andoperational benefits of self-funding. Taking it a step further, funding benefits incaptivesmakesalotofsenseformanycompaniesaditcanprovideeffective,long-termsolutionstotherisingcostsoffundingavarietyofemployeebenefits,aswellaspensionandretireemedicalobligations.

UsingaCaptivetoFundEmployeeBenefitsThirtyyearsago,captiveswerenotcommonlyusedforfinancingemployeebenefits,as regulatory obstacles and reinsurance restrictions limited eligibility to only thelargestofcaptives.TheUSDepartmentofLabor(DOL)mustapprovetheplacementofERISAbenefitsintopure-parentcaptives. Manywell-knownorganizationshaveobtained fundingapproval, including, butnot limited to,ArcherDanielsMidland,AlconLabs,Alcoa,AGLResources,AstraZeneca,BannerHealth, InternationalPaper,MemorialSloan-KetteringCancerCenter,SunMicrosystems,andUnitedTechnologies.Many more companies have used captives to fund other non-ERISA employeebenefits that do not require DOL approval. Moreover, employer groups andassociations are establishing captives to fund employee benefits, thus offering analternative to the commercial insurance markets and providing an incentive formembershipgrowth.Forcompanieswithpropertyandcasualtycaptives,certainemployeebenefitsmaybe “unrelated business,” i.e., insurance business unrelated to the captive’s parent.Adding unrelated business to a single-parent captive can improve the captive’soverall financial efficiency; satisfy the need for third party business allowing theparenttodeductitscaptivepremiumsfromitsU.S.federalincometaxes;andcreateadditionalcostsavings.


Regulatorychangeshaveledtoincreasedemployeebenefitcaptivefunding. Someofthesechangesincludethefollowing:n Pressures increasing benefits costs overall and employers’ desire to control

thesecostsn ThemovementtoafasttrackDOLapplicationprocessofapproximately80daysn Revenue ruling 2014-15 further clarifying the tax status of certain employee

benefitsn Thedevelopmentof cell captives creatingmore turnkey solutions for themid-

marketn Atrackrecordofsuccessbythoseemployersthatusecaptivescurrently6

6CICASurvey,March2014<https://www.cicaworld.com/docs/default-source/cica-marketing/view-

highlights-from-the-2014-captive-market-study.pdf>


AdvantagesofPlacingEmployeeBenefitsinCaptivesThere are several advantages to funding employee benefits in a captive. Theseincludecostsavings,increasedcontrol,improvedriskmanagement,andenhancingapreviouslyestablishedcaptive.n Improvedcostsavings

l Controlemployeebenefitpremiumcosts― Estimated potential savings for employee benefits in captives vs.

commercialinsurance7areasfollowsisgenerallybetween5-20%l Reduce frictional costs (commissions, taxes, risk charges, insurer profit,

administration)andunderwritingsavingsl Captureinvestmentreturnsl Improvecashflowandcentralizeinvestmentofreservesl Improvemanagementreportingandunderstandingofrisks

n Increasedadministrativecontrol

l Designcoverageandprovisionsofbenefitsl Improvedatamanagementandlosscostmanagement

n Improvedriskmanagement

l Manageacentralizedriskpooll Purchasestop-lossreinsurancetomanageexposuretocatastrophiclossl Quantify the financial benefits of wellness initiatives and specific loss

preventionprogramsn Enhancedaproperty&casualtycaptive

l Increasereservesandreducedependenceoncommercialmarketsl Improvespreadofrisk;portfoliodiversityl Add third party insurance business potentially creating tax-deductible

captivepremiums

7SavingsareestimatedfromCICA2009InternationalConference


EmployeeBenefitFundingOpportunitiesAwiderangeofemployeebenefitsmaybefundedthroughacaptive.Benefitsthatpayoutovermultipleyears(e.g. long-termdisabilityandretireemedical),providecashflowstabilityandlosspredictability.Linessuchasgrouplifeinsurance,whichcan be very profitable for commercial insurers, offer the captive the same profitpotential.Captive solutions can be used to fund benefits covered by ERISA or those notcoveredbyERISA.ERISAbenefitsareprimarilythebenefitplanssponsoredbyandcontributed tobyemployers, suchas retirement, group life insurance,health, andwelfareplans. Theseplans are subject to federal oversight, under the auspicesoftheDOL.Non-ERISAbenefitsareoftenbenefitplanstargetedtoaspecificpopulation,suchassupplemental retirement plans for executives or stop-loss. These do not requireDOLapprovalforcaptivefunding.SincethePatientProtectionandAffordableCareAct(PPACA)prohibitsinsurersandself-insurersfromplacinglimitsonemployeebenefits,manyself-insuredemployersfindthemselvesassumingadditionalliabilitiesbecausemedicalcoverageisnowanunlimited liability. A captive is an ideal vehicle inwhich an employer creates anannual aggregate limit, known as stop-loss coverage, and purchases excess(unlimited) coverage from the commercialmarkets above the captive’s aggregateretention.


MedicalStop-LossCaptiveFundingHealthcare reform, increasing costs, lazered coverage and leveraged trends arecausing many employers to reconsider their stop-loss options. These includeemployerswhoare fully insuredconsideringamovetoself-insuranceandcurrentself-insuredemployers.Healthcarereformmandateshaveledtomanyemployerstoreviewthecostoftheirmedical insurance programs including funding alternatives and the need foradditionalstop-losscoverage.Decidingtoinsuremedicalstop-lossandfundit inacaptive has proven to be a great way for employers who self-fund their healthcoveragetoaddalayerofprotectionfromexcessivelyhighindividualoraggregatehealthclaimsandmeetACArequirements.Medical stop-loss is not considered first dollar health insurance benefit and thusstop-loss captives are not subject to Department of Labor approval in the UnitedStates likemanybenefits are.Also,by funding stop-loss ina captive, anemployergainsaccesstolower-costreinsurancetheymightotherwisenotbeeligibleforasadirectpurchaser.

HowMedicalStop-LossCaptiveFundingWorksThefollowinggraphicdepictsatypicalmedicalstop-losscaptivefundingapproach:


Self-insurance with stop-loss saves money through elimination of carrier profit,premium taxes, improved cash flow as the employer holds on to the claim lagbetween date of service and date of payment, exemption from state mandates(though not from ACA mandates) and reduced administration fees as these arebifurcatedfromtheclaimscosts.As claim costs are not completely predictable, self-insured employers are usuallyabletobudgetfairlycloselytoactualcoststhroughthepurchaseofawell-designedstop-lossprogram.Claimsunpredictabilitygenerallyarisesfromvarianceinthenumberoflargeclaimsforanyoneclaimantandthecostperlargeclaim.Thepurchaseofspecificstop-loss insurancecoverageprotects fromclaimsonanyoneindividualexceedingathresholdamount,say$200,000,inagivenyear.Largeremployers choose specific stop-loss attachment points as high as $350,000 to$750,000 while smaller employers may choose stop-loss levels of $30,000 to$100,000. An actuary can best recommend an appropriate attachment level toassureasmalllikelihoodofclaimsexceedingatolerablerisklevel,suchas110%or125%ofexpected.Stop-lossratestypicallyincreasewellinexcessofnormalmedicaltrend.Soifyourunderlyingprogramcostshavegoneupsay8%yourstop-losscostsarelikelytogoupwellinexcess,forexample,13%.Thereasonforthisistheleveragingimpactofthestop-losscoverageandattachmentpoint.Thisresultsfromthefactthatclaimsthatwerejustundertheattachmentpoint in2012withregularmedicaltrendwillbe over the attachment point in 2013 and thesewill be added to all the trendedclaims already over the attachment point. To counteract this, employers oftenregularlyincreasetheirattachmentlevels.Captivefundingminimizesthesechanges.Themostcommonstop-losstermscoverclaimsonapaidbasis.Forself-insuredfirsttimers, moving from a fully insured program is typically 12/12 – incurred in 12monthsandpaidin12months.Thisfirstyearisreferredtoas“immature”astherearefewerexpectedclaimspaidduetotheclaimlag.Thesecondyear“mature”termsmight be 24/12 to cover the incurred claims run out from the first year. For anincreasedprice,aterminalliabilityoptionmaybeoffered,whereupontermination,theemployercanpurchaseadditionalprotectiontocovertheremainingclaimrunout.In thepast, stop-losspolicies typically includeda lifetime limitof $1-2million.Asemployers can no longer limit their underlying plans it is important to have thislifetime limit removed fromyourstop-losspolicy ifyouhavenotalreadydoneso.Stop-loss carriersmay still look to impose annual limits. It is important that youmakesureanyannuallimitscoordinatewithyourunderlyingplan.


A crucial coverage for smaller employers is aggregate stop-loss protection. Thetypical cost is $5.00 per employee permonth or less and protects against actualclaims on amounts below the specific attachment point exceeding 125% ofexpected.Thoughthe likelihoodofhittingtheaggregateattachmentpoint issmall,thecostforthissleep-wellprotectionischeap.Aggregatestop-lossshouldnotbeconfusedwithanotherofferingtolowerprice-anaggregatingspecificdeductible.Bywayofexample:Claim Specific

AssumptionNet

$225,000 $75,000 $50,000

$150,000 $75,000 $75,000

$225,000

AggregatingSpecific $100,000

Reimbursement $125,000Oftenthereinsurerwillreducepremiumoneforone,or$100,000inthisexample.Attimeofpurchaseandannualrenewal,moststop-losscarriersaskfordisclosurestatements requiring the employer to disclose an adverse developing claims bidsubmissiontothecarrier.Typicallytheywouldlikethisabout30to45dayspriortotheeffectivedate.Thedisclosurestatementasks for individualdetail forpotentiallarge claimants based on past claim history, certain diagnosis, etc. If somethingadverselymaterialshowsup,thestop-losscarriermaywanttodiscussoptionssuchasraisingtheprice,puttinginaggregatingspecificdeductibleorlasering(excludingcertain individuals or using a higher deductible for certain individuals). Carrierswillingtoprovidefinalratesearliermaybuildadditionalmarginintotheirrates.Typically, employers purchase stop-loss on a single plan basis. Most coverage ispurchasedinthecommercialmarket.Someemployerspurchasecoveragefromtheirownedcaptive reinsureralreadyproviding insuranceprotections toother risksoftheemployer.Thisallowsthecaptivetoretainpricingriskmargins.Asmedicalstop-lossriskisgenerallyuncorrelatedtotheremainingcaptiverisktheoverall employer risk profile is reduced through this approach. Furthermore, thestop-lossprogramcanbegeared towards theneedsof theemployer including forexample various risk sharing arrangements. The captive will typically purchasereinsuranceprotectiontocovercatastrophicclaimsandperhapsshareintheclaimsrisk. Generally carriers writing captive reinsurance protection are experts in thisareaandarenottheusualdirectstop-losswriters.


CommonTypesofStop-LossCaptivesStop-losscaptivesareverysimilarinstructureandnatureastheirP&Ccounterparts.Likecasualtycaptives,thetwomostcommonstop-lossstructuresaresingle-parent(pure)captivesandgroupcaptives.

Single-ParentCaptivesSingle-parentstop-losscaptivesaregenerallyasubsidiaryofaparentorganizationandareestablishedtoinsuretheparent’srisk.Single-parentcaptivesaregenerallynotsetupspecificallytoinsurestop-lossrisk;ratherstop-lossisaddedintoexistingcaptivesasanadditionallineofcoverage.Thisisusuallythecaseduetothesizeofthepremiumsandthedifficultyacompanywouldhavetofinanciallyjustifyastand-alonemedicalstop-losscaptive.Addingstop-losstoanexistingsingle-parentcaptiveisoneofthecommonoptionsinthecaptiveindustryandonethatcountlesscompaniesarerealizingrealsavingswith.Withsomanyemployersself-fundingtheirhealthinsurancetodayandalsoinsuringelementsoftheircasualtyriskincaptives,thistrendissuretocontinuesingle-parentcaptivefunding’sshareofthemedicalstop-lossmarketwillcontinuetoincrease.

GroupCaptivesOften,employerswillformagroupcaptivetofundtheirmedicalstop-loss.Suchanarrangement provides individual members with the financial benefits of captivefundingwhilesharingtheoveralladministrativeburdenassociatedwithforminganinsurancecompany;therebyretainingstop-losspricingriskmargins.Theemployerownedstop-lossinsurerpurchasesreinsuranceprotectionasnecessary.Groupmedicalstop-losscaptivesareagreatwayforsmallandmid-sizedbusinessestogetanextralayerofcoveragebybandingtogetherwithothercompanies.Thesegroup captives can be heterogeneous or homogeneous and, assuming enoughcompanies participate to make it financially feasible, can be setup as their ownstand-alone captives. Eachmember of the grouphas their own self-fundedplansand administration and just buys into the group captive for stop-loss. Typically,thesegroupscansave5%to20%.


WhoShouldConsiderMedicalStop-LossCaptiveFunding?While every circumstance is different and anyone considering captive fundingshould seek the advice of a professional consultant, generally, $1 million inpremiums is the threshold for single-parent stop-loss captive funding. For groupcaptives,atotalof1,000coveredemployeelivesand$2.5millioninpremiumisthestartingpoint.Thereare,ofcourse,anumberofvariablewhichmaydictateahigherorlowerentrypointforaparticularcompanyorgroup.


CellCaptives:TheRightFitforManyMid-SizedBusinessesforMedicalStop-LossFundingForcompaniesthatdon’thaveanexistingcaptive,aren’t largeenoughforastand-alonemedicalstop-losscaptivetomakesenseand/oraren’tinterestedinformingorjoining a group captive, there is an alternative option. Using a cell captive formedicalstop-losscoverageisanoptionthathasbeenexploding,of lateamongthemid-market.Byrentingspaceinanexistingcaptive,coveringmedicalstop-loss,andadding an extra layer of security to a self-funded plan, becomes a much morefinanciallyviableoption.

WhatisaCellCaptive?A protected cell company (PCC) is a legal entity, set up by a sponsor, which isdivided up into individually protected cells that are rented out by the sponsor tocompanies or groups who want to use a captive cell to fund various risks. Thesponsor establishes the core of a PCC and the overall PCC structure. Onceestablished,thesponsoralsomanagesthePCC’sday-to-dayactivities,allowingcellowners to avoid a lot of the corporate and administrative resources typicallyrequiredforacaptiveinsuranceorreinsurancecompany.WithaPCC,youessentiallybenefitfrompooledadministration,butnotpooledrisk.Eachcell inaPCCis independentofandinsulatedfromtheothersandthecore intermsofassetsand liabilities.Often,PCCswillallowcompanies toownmorethanonecell,andtypicallyeachcellisstilltreatedindividually.

WhataretheBenefitstoaCellCaptive Thereareanumberofbenefitstoinsuringyourriskusingaprotectedcellcompany:n Easy entry into funding risk - While you still have to clear the typical

regulatoryhurdlesofsettingupacaptivewhichvarygreatlydependingontherisk in question, a great deal of the administrative time and money that youwouldtypicallyspendiseliminatedsincewehavealreadysetuptheshellentityforyou.

n Economies of scale - With a protected cell company, you enjoy continuedadministrative savings due to economies of scale from potentially pooledadministrativecosts.

n Professional captivemanagement -Asanownerofa cell, yougenerallycanexpectday-to-daymanagementservicesfromprofessionalcaptivemanagers.


IsaPCCrightforyou?Participationinaprotectedcellcaptiveisattractive,butnotforeveryone.Generallyspeaking,mid-sizedcompaniesthataredippingtheirtoesincaptivefundingarethelikeliestparticipantsgiventhelowerbarrierstoentryandmanagementassistanceaPCC offers. That said, there are a number of other reasonswhy companies of allsizes would strategically use a cell captive to address their risk portfolio. Afeasibility study will go a long way in identifying if a company is a good fit forparticipationinaPCC.


SpringCaseStudy:GroupMedicalStop-LossCaptiveHelpsEducationalInstitutionsControlHealthInsuranceCostsTheChallenge:Every organization struggles with the high cost of insurance, especiallyhealthcare.ThechallengesoffundinghealthcarehaveincreasedsignificantlyoverthepastfewyearsformanyAmericanbusinessesduetotheimplementationoftheAffordableCareAct.Universities, colleges and other institutions of higher education are under evenmore intense scrutiny as the cost of education continues to climb. This has leftadministrators scrambling to find more creative and efficient ways to fund theiremployeebenefits.TheGoal:To design an efficient and effective stop-loss funding vehicle for a higher educationconsortium already in collaboration for other joint purchasing and educationalinitiatives.TheProcess:Springhasbeenworkingwith a large groupof institutionsofhigher education topinpoint opportunities for greater healthcareprogramefficiency and savings.Weconductedathoroughfeasibilitystudytoidentifyappropriatefundingstructure(s)that would meet the goals set by the consortium. From the results, the groupdetermined that the best course of action was to implement a Vermont-basedcaptive insurance entity for medical stop-loss risk sharing. In tandem theconsortium, in collaboration with Spring, developed common plan designs andestablishedacoreprocessframework.Eachentitywithintheconsortiumprovidesaself-insuredhealthplanwithpooledrisksharingaboveaspecifiedthreshold.TheSolution:A new organization as well as a Vermont-based stop-loss captive was formed toachievethesegoals.ItwaslaunchedonJuly1,2013withacoreofsixcollegesanduniversitiesparticipatingondayone.Theneworganizationwasdevelopedbasedonthebeliefthatcollaborationamongbest in class institutions would create a mechanism for leveraging economies ofscale to significantly improve health care buying power, provide efficiency inprogramdesign,administrationandfundingcreatingaplatformfortruepopulationhealth management based on the needs of its members; it has certainlyaccomplishedallofthisandthensome!


TheResults:At inception the consortium had 6 member schools. The number of entities hasdoubled in two years and represents 9,200members. Collectively, working rateshaveincreasedby1.9%overtwoyearscomparedtoamedicaltrendof7%–8%.Inaddition, on topof the tightly controlled rates, 2%of totalworkingpremiumwasreturnedassavingstomembers.Asthisorganizationentersyearthree,itisstrongandhassetveryambitiousgoals.Thememberinstitutionsarefocusedonfurtheringtheirstrategytoprovidequalitycarewithmoreparticipantinvolvement.Inadditionfurthercollaborationondiseasemanagement, wellness and Rx costs are on the short-term roadmap in order tosupportaneffectiveandhealthierworkforce.Thisgroupapproachisatrulygroundbreakingsolutioninanindustrywhereeachcollege isuniquewithvery specifichuman resources expectations.The success inyear one of this neworganizationhasmade it a trailblazingmodel for the highereducationcommunityandothersimilarlysituatedindustries,goingforward.


AboutSpringSpring, provides a full range of strategic consulting services to institutions in theinsurance and financial services industry; broad consulting and brokeragecapabilitiestoemployers;andfundingsolutionsforbenefitprograms,includingtheuseofcaptiveinsurancefacilitiesandtheday-to-daymanagementthereof.Spring was formed in March 2004, through a management buyout of the USinsuranceandfinancialservicesstrategyconsultingpracticeofWatsonWyatt,LLP.

OurUniqueExpertise Spring has works with employers of all sizes to design, implement, fund andimprovetheiremployeebenefitprograms.Spring brings our clients unmatched expertise in the area of employee benefitsdesign, alternative funding and captive management. The Spring team has beenproviding a full range of employee benefit and captive program administrationservices, including underwriting, pricing, reserving, claims processing, financialmanagement and administrative services to employee benefits captives for morethan10years.Tohelpensurethesuccessofourconsultingengagements,Springhasunderitsroofafullarsenalofresources,toolsandstrengthstobenefitourclients.Theseinclude:n Award-Winning Broker-Agents. We have been developing innovative, cost-

saving employee benefit solutions for clients of all sizes for decades and havebeenrecognizedbesomeoftheindustry’stoppublicationsandorganizationsforourwork

n CaptiveSpecialists.Wehaveexpertiseindevelopingcaptiveinsurancestrategiesin employee benefits for our clients that seek cutting edge alternative riskfinancing solutions. With our precedent-setting captive strategies, we havehelped shape the employee benefits captiveworld in the United States as weknowittoday

n Recognized Experts. You want the best in the business— people who haveworked with FORTUNE 500 to small business clients to solve problemscreatively.Ourconsultantsarerecognized leaders in thedesignand fundingofcaptive insurance solutions, and can bring to bear their collective knowledge,insightandindustryconnectionsforthisproject

n StrategicSolutions. Youneedanswersthatwillbelong-termsolutions—onesthattakeintoaccountnot justtheproblemoftoday,buttoanticipateandplanforthechallengesyourorganizationwillfacetomorrow

n EffectiveTeamwork.Youneedacommitted,proactiveteamwiththeabilityandresourcestodeliverservice.Youwantexpertswhocantransfertheirknowledge


ofcomplexissuestotheyourteameasilyandeffectivelyn Predictability. You need straightforward advice tailored to your specific

businessissues.Youwantnosurprisesinbothourworkingrelationshipandtheresultsweprovideyou

n FocusonBusinessObjectives.Youneedateamwhounderstandsyourbusinesswellandisdedicatedtodeliveringservicesthataddvaluetoyourbusiness—afirm that understands the complexities of issues ranging from financialforecasting toactuarial fundingand its impactonshort- and long-termbudgetandfinancialplans


What’sNext?Springisarecognizedleaderinbenefitcaptiveconsulting.Thereisnootherfirmoutthere that is experienced in developing innovative medical stop-loss fundingprogramsusing captives.Our teamof consultants, legal experts and actuaries canhelpyoudetermine if a captive is the rightplace to fundyour company’smedicalstop-loss.Wehaveextensiveexperienceworkingwithsingle-parentsandsettingupgroupcaptives.If you’d like to explore stop-loss captive funding further, the next step is a quickdiscoverydiscussionwithaSpring consultant to findoutmoreaboutyouoryourgroup’sneedsanddetermineifafeasibilitystudyiswarranted.Contactustodaytosetupafreeconsultation.

ContactInformation SpringConsultingGroupLLC30FederalStreet,4thFloor,Boston,MA02110Phone:(617)589-0930;Fax:(617)[email protected]:spring-consulting-group-llcTwitter:@SpringsInsightYouTube:SpringConsultingGroupSlideShare:SpringConsultingGroup

funding medical stop -loss in captives medical stop -loss in captives ... employee benefits may be...

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