When Is It Time to Discuss Self-Funding With Clients?

With a fully insured plan, employer groups pay a rigid premium each year without question and never see savings or discounts, even on good plan years. This insurance structure provides zero flexibility or control and leaves employers’ money on the table to go back in the pockets of the insurance companies. 

With a solution like Franklin Health, Crumdale’s innovative self-funding platform, we help employer groups retain their surplus and experience the benefits of self-funding with a customized, stable and low-risk approach that’s proven to provide cost savings.

If your clients are complaining about high premiums, catastrophic increases, or lack of custom plan options, it could be time to engage in a discussion about switching to self-funding.

Please Note: Even if you have a client who is already self-insured, their plan might not have the proper strategies or approaches in place to put a cap on high costs and control renewals with stop-loss, risk control or active claims monitoring. 

Who is Franklin Health for?

Self-funding with our Franklin Health Platform is available to all employers with at least 25 enrolled employees who are tired of double-digit renewal increases. The best candidates are:

• Fully-insured groups looking for more renewal stability with a structured approach to low-risk self-funding
• Self-Funded groups that are experiencing significant increases due to lack of claims control
• Level-Funded groups that are tired of giving up a portion of their surplus claims’ dollars to an insurance carrier.

Why Switch to Self-Funding with Franklin Health?

All types of employers can benefit from a switch to our innovative self-funding platform because of Franklin Health:

1. Promotes simplicity and low costs for employers.

• Crumdale has a turn-key approach to self-funding – we’ve already built the framework; we simply customize the structure for each client.

2. Our risk mitigation tools are a part of every Franklin Health plan ensuring that every employer saves money.

•   Provides stability and security for pricing and benefits.

3. Franklin Health provides a streamlined budgeting approach with stable, predictable monthly payments.

• Employers have full control over their claims fund – no one touches their money but themselves!  The group retains 100% of all claims surpluses at year-end.
• We place proper stop-loss protection with each plan ensuring no employer pays more than what we illustrate.
• Maintains control with independent pricing.

4.  Crumdale has leveraged its total platform volume for purchasing power to drive lower costs.

How to Make the Switch Simple?

Employers and HR directors trust brokers to help them make the switch to self-funding because it can be complex and challenging to navigate without the right tools, experience and support. We make the transition into Franklin Health plan easy.

Starting with the quoting process, Crumdale’s team walks each group through the Franklin Health platform – what stop loss is, what a PBM does, what a TPA does, etc.  Groups are shown rates, similar to what fully-insured groups are used to seeing, to make comparing costs easy.  Once a group decides to move forward, Crumdale’s team leads the implementation process. 

We make the transition to Franklin Health straightforward as we have already built the framework of each health plan.  This means, we can implement new clients on the platform in as little as 30 days.  Crumdale’s team walks each client through the process to make it smooth and painless, making implementation easy on our broker partners too. 

If your clients talk about wanting lower premiums, custom plan design or better renewal, contact us today to schedule your complimentary, confidential client assessment – and join the self-funded revolution!