MARCH 2023

IMARK Group Health Insurance Captive, part of the oldest and largest medical captive in the U.S., gives IMARK Group the same purchasing power, claims cost containment, and clout as a Fortune 100 company. Members of BLUE HAWK, IMARK Electrical, and IMARK Plumbing can take advantage of this purchasing power.

The IMARK Group Health Insurance Captive is a great option that can help save your company money but still give your employees great coverage or maybe even better than what you have currently. If you haven’t explored your options, now is the time to start so you don’t have to rush to get everything in place before your renewal.

A captive is an insurance company whose purpose is to assume risk on behalf of its owners. Conceptually, captives bring together like-minded businesses that pool their dollars into a collective fund. By doing so, a captive can:

• Significantly reduce the volatility that mid-sized clients would face if they were self-funding on their own
• Use collective buying power to build benefits programs that rival most Fortune 500 companies

In practice, captive members contribute anywhere from 15% to 35% of their total healthcare spend for large and catastrophic claims via premiums to the stop-loss carrier and captive. The captive or carrier then pays the large claims, and employers use the rest of their healthcare spend to pay for their broker, third-party administrator, and any smaller, more predictable claims. If the captive runs better than expected, the employer receives their share of the profits. If the smaller claims don’t happen, the money never leaves their control. That’s self-funding with less volatility.

An important part of an effective captive structure is employers’ use of cost-containment programs. Pareto’s portfolio includes an array of integrated solutions and strategic resources, including better pharmacy benefit manager contracts, an on-staff clinical pharmacist, Medicare & COBRA participation optimization, specialty networks, care coordination services, cancer support, clinical prior authorization review, and access to population analytics and intelligence (to name a few). These programs help improve the overall health of employees and reduce aggregate claims made to the employer, generating significant savings for members in the long run. Comparing the pros and cons of captive insurance with the pluses and minuses of existing insurance models reveals which is the better healthcare option:

For more information or to take advantage of this program contact:
Dee VanSchoick, Jr.
Managing Director
Risk Strategies Company
Dvanschoick@risk-strategies.com
936-582-5205