Advantages of Level-Funded Health Plans
A level-funded health plan, also known as a partially self-funded health plan, is a health insurance plan that combines the cost savings of a self-funded plan with the predictability of a fully insured plan.
BusinessEDGE® plans are level-funded plans available to groups with 5-250 total enrolled employees. These plans include comprehensive benefit plan options, protection from high claims, fixed premiums, and refund opportunities. Value-added employee wellness programs are also available to help improve your employees’ health and reduce overall claims.
BusinessEDGE — A Cost-Efficient Alternative
BusinessEDGE plans are designed to reduce health benefit costs so that you can invest the savings back into your organization.
This funding alternative offers simple and predictable health benefits costs, such as:
- Twelve (12) months of fixed premium payments1
- Stop-loss protection against catastrophic claims
Additional savings include:
- A potential refund if claims are lower than predicted2
- Insurance premium tax savings
Value-Added Services for Members
BusinessEDGE plans include value-added programs and benefits, such as:
- Personalized health and wellness programs through our partnership with WebMD
- Employee Assistance Program
- Tools to help manage prescription benefits
- Movement and fitness programs
- Variety of digital tools and services, including a mobile app
- Member discounts on products and services
For more information on plan offerings for groups of all sizes, visit the Employer Group Landing Page.
Still Have Questions?
BusinessEDGE FAQs
BusinessEDGE Underwriting and Enrollment Checklist
Want to learn more?
Talk to your broker, email our sales team, or fill our the Request a Quote form.
1 Based on predicted claims history.
2 If the group is still insured with Sentara Health Plans and actual claims history is lower than predicted. The group can collect a predetermined percentage of unused claims fund.