The Problem
Youth. Almost all the startup’s employees are 35 or younger, a demographic that generally doesn’t overuse healthcare or submit unreasonably high claims. Yet the firm’s large insurance company doesn’t take a specific population’s need into account when calculating its fixed plan costs.
The Strategy
When the company touches base with MagnaCare, we reveal that one of the chief benefits of self-funded health insurance is the employer’s ability to create their own healthcare plan to ensure employees receive the care that’s right for them and the company.
The Benefits
With full access to claims data—something often denied by traditional health insurance companies—the tech startup can design a flexible benefits plan that allows them to:
Pick the healthcare solution
from reduced premiums and state taxes
Choose copay and deductible amounts
as well as covered services
Add benefits or make changes
whenever needed
Know exactly what their plan
is going to cost each year
With 30 years of experience serving self-funded clients, MagnaCare provides everything you need to administer your health plan at a lower cost and with the greater customization that each individual company deserves.
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Additional Case Studies
MagnaCare dishes out a recipe for success
The company’s mission is to spread the word about its regional cuisine, not lose valuable time resolving employee complaints about its traditional insurance carrier’s unresponsive claims department.
When it comes to healthcare, one size does not fit all.
Youth. Almost all the startup’s employees are 35 or younger, a demographic that generally doesn’t overuse healthcare or submit unreasonably high claims.
The high cost of traditional health insurance takes a hike
The firm’s executives are unhappy with the way traditional employee healthcare costs spiral ever higher, creating a drag on revenue.
When a trendy new health insurance startup needed a provider network, MagnaCare was there.
The northeastern insurance startup was backed by hundreds of millions in venture capital and buoyed by a fresh way of looking at health insurance — an emphasis on virtual and telemedicine visits,