Jan 23, 2024
With rising premiums throughout the health insurance marketplace, employers are looking for solutions. UnitedHealthcare is proud to announce that participation in their Level Funded plans have been growing dramatically since 2018 thanks to its price, competitiveness, transparency, and strong value proposition.
In 2022, 37.0% of UnitedHealthcare’s Level Funded plan sponsors received a premium refund, averaging $8,400 per plan sponsor. As of the end of 2023, approximately 87% of their nationwide Level Funded membership is in the 2-50 market segment.
Highlights of the Level Funded program in California include:
- NEW: Eligibility has been reduced to group sizes as low as 5 eligible.
- Minimum participation is 50% of all eligible employees, regardless of valid waivers.
- NEW: All plans are now offering a 12 month incurred/60 month paid contract. This is the maximum protection available in the marketplace.
- NEW: Groups may elect a 15-month rate guarantee for their first year of coverage.
- NEW: Underwriting for most groups can now be done using a member census.
- The primary exception is that virgin groups still must complete questionnaires.
- Non-virgin groups may occasionally still have to complete questionnaires if the census underwriting does not result in usable data.
- Groups may also be eligible for packaged savings discounts if they include dental, vision, or basic life (minimum $25K) with medical.
- Plan designs and networks mirror fully insured plans, with similar options that can be chosen.
- All non-HSA-qualified plans have a $0 copay for primary care visits for dependent children under age 19.
- NEW: All plans now offer $0 virtual visits for both HSA-qualified and non-HSA-qualified plan designs. Virtual visits do not incur claims costs to the employer.
- NEW: All plans offer Healthiest You™, UHC Rewards®, and Real Appeal® as wellness options.
- Brokers may select their own commission rates during quoting.
An updated training presentation is now available, which includes further information about the updates and enhancements, as well as other valuable information that brokers can share with their clients.
Contact your Amwins Connect Regional Sales Manager today to find out more about UnitedHealthcare’s Level Funded product.
