Why Our Customers Love Level-Funded Insurance

We recently wrote Level-Funded Insurance: Why Local and Regional Agencies Don’t Recommend It Enough, and Why They Should, about the many advantages of offering level-funded insurance, especially for small- to mid-sized agencies. Although it seems a bit more complicated than other options, it is worth becoming more educated about level-funded major medical health insurance and offering it if it’s right for your employees. 

Why? Our customers can attest — level-funded insurance boosts return on investment (ROI) and is a terrific way to offer “wow” customer service, improve client retention, and increase employee satisfaction. 

But don’t take our word for it. Find out how our customers are benefitting. 

Up to 54 percent savings 

One company with 188 employees on a level-funded plan realized a total savings of $1,050,634 — a 54 percent savings. Another with 23 employees on a similar plan realized a 46 percent savings. Yet another with just 13 employees on a level-funded plan saw a 33 percent savings.

And they are not alone!

• A jewelry store with seven employees saved 18 percent using level-funded insurance compared to a fully insured plan. Yearly renewals cost at least three percent less when compared to the national average. They also received refunds of $1,158.61 in 2022, thanks to the use of prosper benefits. 
• A dentist office with six employees realized a 50 percent reduction in in-network deductibles and more than 25 percent reduction in premiums. 
• Our clients using level-funded insurance often receive substantial refunds on unused claims. Depending on the business, these typically run from $1,000 up to nearly $10,000 — a welcome cost-savings for any business. 

MyHealthily helped each company navigate the ins and outs of level-funded major medical health insurance – and they are glad they did. The Chamber of Commerce of Cape Coral, a small non-profit with three employees, saw a 25 percent reduction in premiums, $0 deductible (down from $6,000), and was able to offer a complete suite of non-insurance benefits ( EAPs) with their coverage plan. Said Donna G., president, Chamber of Commerce of Cape Coral, “We are excited for our members to use this benefit and save like us!”

Other customers feel the same way. 

“As a new ER veterinary clinic, it was next to impossible to be able to offer good and affordable health insurance for our employees,” said Karan N., medical director, Allied ER Veterinary Services. “Working with MyHealthily was seamless, all questions were answered, and I was guided to make the best decisions for my team. We were excited to not only be able to offer health insurance but have two plan options available for the team to choose from.”

MyHealthily with you every step of the way

As our customers attest, choosing level-funded insurance can give you more control over your healthcare expenses and help you realize tremendous cost savings. If you’d like more information about how level-funded plans differ from self-insured and ACA community rated plans, here’s an in-depth summary and comparison of insurance options for your small - midsize business clients. 

Selecting level-funded insurance, providing faster service, and saving time setting up, enrolling, and managing your small group clients doesn't have to be complicated. MyHealthily's comprehensive workflow management platform makes recommending level-funded employee health benefits options—especially to small groups—seamless and profitable. 

Learn more about the details of level-funded insurance by booking your demo today.