Cigna Group Health Insurance

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Some Highlights Regarding Effects of Cigna's Consumer Driven Plans with Self-Funding

• Average 12% first year savings versus fully insured (immediate)
• Average savings of $7900 per employees over 5 year window (sustainable)

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Self-Funded Plans Have Been Successful Due To:

• Surplus Credit - When actual claims are less than projected, the company receives a credit - money directly back to the company
• Payments don't Fluctuate (Level Funding) - Monthly costs are based on standardized quantities for the year
• Client-Specific Claims reports
• Every company has direct access to reports that track exactly how claims dollars are being spent (more on this below)
• Tailored Plan Design - Employers can tailor their plan design

It's rare to have a "hot" product in the California group health market despite the ad slicks from various carriers but Cigna's new offering is as close as we get on that front and for good reason.

With Cigna's new self-funded group benefits and Choice consumer-driven plans, health insurance has finally stepped out of the stone-age and into the digital age of control, visibility, and cost effectiveness.

Let's take a look at how their self-funded plans work and what advantages they offer companies in California.

Cigna Self Funded Group Coverage

The beauty of the Cigna Self-Funded plans is that it combines an immediate pathway to savings with a longer term control and visibility element that can impact an employer's cost over time.

Let's look at both of these elements.

The Inherent Benefit of Self Funding

First, what is self-funding? Essentially, a company is taking some of the responsibility for claims exposure from the carrier but in return, also some of the savings.

The opposite is a "Fully Insured" group plan where the insurer takes the full responsibility (minus deductibles, copays, etc) for the company's health claim exposure.

So Where's The Benefit In Self-Funding?

Insurance companies are not exactly going broke. You're paying the carrier a premium above the claims experience (in aggregate) which pays for all those fancy buildings and commercials (ducks, cavemen, you name it).

We only entertain self-funding if we expect a sizable savings over a fully-funded health plan and we can quickly size up the potential for your company based on age, zip code, and type of industry.

Nearly 2/3rd of Cigna's self-funded health plans have received a surplus (savings)

That's the Self-Funded part.

Now let's look at where Cigna is really groundbreaking for group health options.

Simple and Powerful Tools To Reduce Future Premiums

One of the reasons for the Cigna's Self-Funding and Consumer Driven plans success has to do with the revolutionary set of tools they package with the underlying health plan.

Think of a full wellness suite that actually works and digital graphical view of how your employees are interacting with health benefits.

We're not talking clunky interfaces with lines of obscure data. Simple graphical representations of where money is spent, saved, and the ability the change course accordingly.

It really is pretty gorgeous...for health insurance.

Visibility is one thing...actual means to affect future health expenditure is quite another.

And Cigna has changed the game there as well.

Rather than list the components (health improvement dedicated team, specialty care management, incentives for individual health improvements), let us run a proposal for you company with expected results.

Get statistical data and benefit detail for Consumer Driven Choice Plans or for Self-Funding

Which California Companies can take advantage of Self-Funding and Consumer Choice Savings?

Cigna Self-Funded group benefits are available to California companies with 25-250 employees and we're happy to quote this option for your company.

Our services are free to you and we look forward to investigating whether this option can provide significant savings to your company.

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