NEW YORK, Oct. 10, 2017 (GLOBE NEWSWIRE) -- Brighton Health Plan Solutions (BHPS), a leading health plan management company, today announced the launch of Create® Level Funding, a self-funded benefits option that offers employers a simple, worry‐free transition from a fully insured to a self‐funded health plan. Create Level Funding is available now to employers who choose Create, the marketplace of health systems, recently announced in the New York tri-state area.
Create Level Funding combines the predictable monthly payments of fully insured plans with the costs savings of self-funding—enabling employers to lower costs and increase control over all aspects of their health benefits.
“Small to medium-sized businesses want to accurately anticipate their cash outlays, so they often opt for fully insured health plans, which have fixed premiums. However, these plans are often more expensive and restrictive than self-insured health plans. Create Level Funding offers all the benefits of self-funding, while retaining the certainty of fixed monthly payments,” said Simeon Schindelman, CEO of BHPS.
Employers who choose Create offer high quality, lower cost health plans designed around leading health systems in NYC, Long Island and New Jersey, including Mount Sinai Health System, Catholic Health Services of Long Island, Englewood Hospital and Medical Center, and several others. Now, with Create Level Funding employers benefit from a positive claim year by receiving year-end refunds if actual paid claims are lower than requested funding levels.
Additionally, secure online reporting enables employers to track claim dollars and determine whether plan design changes are needed. Stop loss insurance covers unexpected claims. BHPS actuaries are available to support analysis and interpretation of each employer’s unique health care experience.
“Since you pay agreed-upon monthly payments but can receive a refund following good claim experience, Create Level Funding gives you more control over your benefits budget. And you can use your savings in any way you choose,” stated Bob Braddick, Chief Revenue Officer of BHPS.
Create Level Funding enables employers to enjoy the advantages of being self-insured, including:
- Elimination of most premium tax
- Control over benefit dollars
- Easy administration, since Create pays all health plan claims and handles all member service
- Low operational costs
- Flexible plan design
- Cost-effective claim processing
- Savings on traditional carrier profit margin and risk charge
- Flexibility with state mandates since self-funded plans are subject only to the federal Employee Retirement and Income Security Act (ERISA)
- Flexible managed risk through stop loss coverage
Create Level Funding is now available to employers with 50-250 employees in New Jersey or 100-250 employees in New York.
For more information about Create visit createhealthplans.com or email info@createhealthplans.com
About Brighton Health Plan Solutions
Headquartered in New York City, Brighton Health Plan Solutions (BHPS) is an innovative health care enablement company with several industry-leading brands, including Create, MagnaCare, and Brighton Casualty Solutions – all on a mission to deliver better health care at lower cost. We believe aligning the interests of our partners through exceptional health care products and services will fundamentally transform how health care is accessed and delivered.
BHPS, a division of Brighton Health Group, serves commercial and labor plan sponsors, health plans, health care providers, and other stakeholders.
MEDIA CONTACT: Anna Clark, (212) 784-5715, aclark@groupgordon.com