Health Insurance Underwriting with Over 100 Employees Part 2

Once you get over a hundred lives, probably around the 150 mark, insurance carriers are actually going to start to give you some claims information. So you’re going to be able to understand how much premium I pay every month and how much the insurance carrier is paying out in claims. And you’re also going to be able to identify any large claimants in your group.

So you’ll know, not by name, but you’ll know that there’s an employee who has cancer and is going through treatment and has spent over $25,000 and they’ll be able to kind of monitor that claim and kind of keep track of it as you go forward. And then so the larger you get the more, the more your rates are based on your own claims experience and the more you really should think about level-funded and fully insured or self-funded options.

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