Choose a Funding Option
Large Employer health insurance plans can be funded in many ways, from conservative arrangements to those with higher risk.
Fully Insured Options
Traditional Fully Insured (51+ Employees)
This is a lower-risk option in which employers prepay premiums that include expected claims and fixed costs (administrative fees and risk allocation). We pay for all covered claims as defined in our Group Health Insurance Contract.
SelectHealth Share (Ideal for employers with ≥ 100 employees - Utah only)
Includes a three-year rate proposal, with increases of 4% in years two and three for employers that meet their Share commitments. Employers also access our robust Healthy Living platform for employees to complete required commitments such as digital health coaching, fitness challenges, and health screenings, which help create a workplace culture of health.
Level Funding (51 to 250 employees - Utah Only)
As a self-funded plan, rates are set by calculating administrative fees, reinsurance for specific and aggregate attachment points, and anticipated claims. Based on this calculation, employers can choose their own tier structure for rate calculation. Employers will see one bundled invoice based on enrollment and the set rates.
If claims are better than expected, employers receive a portion of the unused claims dollars back. Nonrenewal and early termination may impact the amount an employer receives back.
Employers receive claims reports that help to pinpoint expense drivers and can choose our seamless plan that provides uniform plan designs and our great SelectHealth customer service.This option includes SelectHealth reinsurance, standard contracts, and uses our SelectHealth Prescription Benefit Manager, SelectHealth Prescriptions.
Traditional Self-Funding (200+ employees)
Our experience providing self-funded administration for some of Utah and Idaho's largest employers, and numerous other clients, has given us a wealth of knowledge in third-party administration. We have the stop-loss, claims, reporting, and medical management experience to service complicated self-funded arrangements.
We offer flexible plan designs that balance cost and coverage while accommodating your unique needs. We provide access to detailed claims reports that pinpoint expenses. Our competitive reinsurance mitigates liability, and employers with over 200 eligible employees can work with approved external stop-loss carriers. In 2016, we processed 96% of claims within 15 days. Our employers know their costs as soon as possible. Employers can choose our seamless plan that provides uniform plan designs and our great SelectHealth customer service.
Nationally Recognized Doctors and Hospitals
Employers can choose between our networks, which range in size and scope to help you balance cost and access.