Cost Sharing Balance Solutions

 At LIEBG, we are not complacent to simply rely on decrements to plan benefits or simple cost-shifting at health insurance renewal time.  Rather, we actively seek out innovative solutions to contain costs and maintain benefits. One such approach has been the strategic use of Cost-Sharing Balance products, which are indemnity products that pay participants a lump-sum benefit per eligible claim.

How do Cost-Sharing Balance products work?

When used together with cost-sharing insurance plans, these products enable employers to provide comprehensive health insurance coverage at a reduced rate while minimizing their employees’ out-of-pocket expenses.  The “gap” concept involves aggressive changes to a primary health plan that reduce medical premiums by increasing employee cost-sharing.  The employee cost-sharing is then minimized by implementing the supplemental Cost-Sharing Balance plan, which pays employees cash benefits to offset their out-of-pocket exposure.  The result is a high level of healthcare coverage with reduced medical premiums and minimized employee costs.

Cost Share Balance Plan Overview
A strategy for long-term savings
Notably, this type of plan design also has the effect of emphasizing diagnostic procedures and bolstering wellness initiatives to promote a healthier and more productive workforce. And then, of course, there is the bottom line. With underwriting and pricing concessions from carriers that cannot be attained through the average broker, we are proud to offer this solution that has saved clients upwards of 15% and invite you to contact us directly for more information.