The Village Global podcast takes you inside the world of venture capital and technology, featuring enlightening interviews with entrepreneurs, investors and tech industry leaders. Learn more at www.villageglobal.vc.
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Gaining Control of Health Plan Expenses
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Manage episode 356203482 series 1614268
Content provided by Middle Market Growth and Middle Market Growth Magazine. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Middle Market Growth and Middle Market Growth Magazine or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
This episode is brought to you by QBE North America, a global insurance leader focused on helping customers solve unique risks to enable a more resilient future. ***As healthcare costs rise, how can employers gain better control of their health plan expenses? QBE North America Vice President, Accident & Health Specialty Markets Matthew Drakeley explains the opportunity for companies to self-fund their health insurance plan and support it with medical stop loss coverage in a captive insurance company. QBE’s 2022 Mid-Sized Company Risk Report found that out of almost 100 risks measured, company executives ranked medical cost inflation and increasing employee benefit costs as among the most concerning. In recent years, the cost of hospital labor, drugs and medical supplies has risen significantly, and hospitals are likely to pass those costs on to health insurers—who will, in turn, pass the bill to employers. Drakeley has effective strategies to gain better visibility, flexibility and control over these rising costs. First, companies can self-fund their health insurance plans and use medical stop loss coverage to guard against an unexpected spike in expenses. Second, companies can place their medical stop loss insurance in a captive to gain even more control over costs. Companies can form their own captive or join one owned by multiple companies, called a group captive, to achieve critical mass for operating efficiency and negotiating power with providers. To learn more about QBE North America, visit www.qbe.com/us/acg-members.*** The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.
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140 episodes
MP3•Episode home
Manage episode 356203482 series 1614268
Content provided by Middle Market Growth and Middle Market Growth Magazine. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Middle Market Growth and Middle Market Growth Magazine or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
This episode is brought to you by QBE North America, a global insurance leader focused on helping customers solve unique risks to enable a more resilient future. ***As healthcare costs rise, how can employers gain better control of their health plan expenses? QBE North America Vice President, Accident & Health Specialty Markets Matthew Drakeley explains the opportunity for companies to self-fund their health insurance plan and support it with medical stop loss coverage in a captive insurance company. QBE’s 2022 Mid-Sized Company Risk Report found that out of almost 100 risks measured, company executives ranked medical cost inflation and increasing employee benefit costs as among the most concerning. In recent years, the cost of hospital labor, drugs and medical supplies has risen significantly, and hospitals are likely to pass those costs on to health insurers—who will, in turn, pass the bill to employers. Drakeley has effective strategies to gain better visibility, flexibility and control over these rising costs. First, companies can self-fund their health insurance plans and use medical stop loss coverage to guard against an unexpected spike in expenses. Second, companies can place their medical stop loss insurance in a captive to gain even more control over costs. Companies can form their own captive or join one owned by multiple companies, called a group captive, to achieve critical mass for operating efficiency and negotiating power with providers. To learn more about QBE North America, visit www.qbe.com/us/acg-members.*** The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.
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140 episodes
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