The Company
A midsize East coast sporting goods firm rapidly expanding
to fulfill increasing demand for quality exercise equipment.
The Problem
The firm’s executives are unhappy with the way traditional employee healthcare costs spiral ever higher, creating a drag on revenue.
Is paying more and more for the same level of service a sustainable business model?
The Strategy
Frustrated company principals reach out to MagnaCare. After hearing their story, we suggest they join the 72% of American employers who self-fund their employee healthcare. On average, companies that self-fund their health insurance save 4 to 12% on healthcare costs each year.
The Benefits
Ongoing. The cost savings gained by self-funding helped give the company freedom to continue its planned expansion.
2 to 3% immediate cost savings
from reduced premiums and state taxes
Enhanced cash flow
because the company doesn’t have to prepay for coverage
No fixed monthly premiums
pay only for the healthcare services used
Continued savings
When claims do not reach the company’s preset limit, the firm keeps those dollars to offset the subsequent year’s funding
With 30 years of experience serving self-insured clients, MagnaCare provides everything you need to administer your self funded health plan at a lower cost and with the greater customization that each individual company deserves.
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