Signature Elite Level Funded Plans
Signature Elite is our small group level-funded program, designed to stabilize costs and simplify budgeting. By combining both specific and aggregate insurance coverage, you gain the flexibility to customize your health plan to suit your group’s unique needs without the typical risks associated with traditional self-funding. Ideal for employers with 5 to 150 employees.
A Flexible Alternative
Our Signature Elite small group (5 to 150 EEs) level-funded program aims to equalize the funding for your self-funded group health plan. By combining specific and aggregate insurance coverage for your group, you will have the flexibility to customize your health plan without assuming the risks typically associated with traditional self-funding. Our level-funded group health plans offer significant savings in the first year and continue to provide savings year after year!
Why Signature Elite Makes Sense
> One fixed monthly payment — ensured to stay constant for an entire year.
> Effortless administration — Plan administration is managed by Unified Health Plan. You can have peace of mind knowing they are responsible for handling your group’s claims payments, accounting, customer service needs, and more.
> Stop-loss Insurance — If your group experiences claims that are higher than expected, stop-loss coverage activates to safeguard your finances and minimize your financial risk.
> Level funded premium rates are frequently lower than other options – leading to savings on your monthly expenses. In years when claims are lower than projected, you may be eligible to receive refunds from your claims account.
One Predictable Monthly Payment
With level funding, your monthly payments are pre-determined, just like a fully insured health plan. The monthly premium rate you are quoted is the fixed monthly cost for every month of the plan year, making budgeting predictable and a whole lot easier!
Plan & Account Administration
Unlike traditional self-funded plans, with level funding, we handle all the aspects of plan administration so that you can focus on growing your business. Unified Health Plan provides this plan administration in-house, so that you can have peace of mind!
Quality Benefits & Plan Designs
With our Signature Elite plans you can select from 16 unique plan designs to offer your group to meet both the requirements for minimum essential coverage and also minimum value.
Signature Elite Advantages
We leverage our extensive industry experience to create value-based healthcare solutions that reduce costs while maintaining high-quality care. Our unique voice resonates with businesses with 5 to 150 employees looking for smarter, simpler health plan options that genuinely benefit their bottom line and their employees’ well-being.Â
First-Year Savings of 15-20%
On average, small groups in our program see a 15 – 20% reduction in health premium costs in the first year compared to fully insured plans.
• For example, a company with 50 employees saved $45,000 in the first year.
Fixed Monthly Costs for Predictable Budgeting
Your total annual claims amount, including any claims run-off liability, is pre-calculated at the beginning of the plan year with no additional charges required to cover the claims fund.
• For instance, if your estimated annual claims cost is $240,000, you pay a fixed amount of $20,000 per month (1/12 of the total) over 12 months, allowing for straightforward financial planning.
Claims Fund Surplus Benefits
With level funding, the claims fund is yours. If your plan runs well and you have a surplus of funds at year-end, you can reinvest your surplus to stabilize any rate increases for the next year.
• For example, if $30,000 remains in the claims fund at year-end, that amount directly reduces the potential premium increase for the next plan year.
