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.
Read other real-life solutions
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,