Roundstone Distributes $4.2 Million in Savings Back to Its Health Insurance Customers
In spite of global pandemic, the company's proactive cost containment measures enable 17% of premium dollars to be unspent and returned to organizations in its July 1 group captive
31 Mar, 2021, 08:38 ET
LAKEWOOD, Ohio, March 31, 2021 /PRNewswire/ -- Roundstone, a health insurance provider specializing in self-funded medical group captive solutions, reported a $4.2 million pro rata cash distribution to business owners across the nation currently enrolled in Clarity, the company's July 1 group medical captive. This figure represents 17% of premiums in the pool in a year profoundly impacted by a global pandemic. The savings are largely a result of Roundstone's unique cost containment measures and consulting services that are bundled in with its health insurance solution.
Unlike traditional fully-insured and other self-funded options for health insurance, the Roundstone group captive allows employers to reduce health insurance costs and retain the money they do not spend. Transparency is a cornerstone of Roundstone's innovative strategy, which includes actionable insights from health plan data that spotlights areas for improvement and savings. Key impact areas in the past year included a swift pivot to telemedicine, better management of high drug costs, well-being programs for treatment of anxiety and depression, and more effective management of chronic conditions such as diabetes and heart conditions.
"Over the past few years, we have returned over $30 million dollars back to our customers," said Roundstone's President Mike Schroeder. "These are smaller organizations who have banded together for greater scale, shared risk and purchasing power. With Roundstone, employers get best-in-class, competitive health benefits for their employees, and also finally gain control of one of their top business expenses. It's a win-win for employer and employee."
Small to mid-sized employers across a multitude of industries are currently enrolled in one of Roundstone's group medical captives. For more information about how these health insurance plans work and how to get started, please visit: https://roundstoneinsurance.com
About Roundstone Insurance
Roundstone is an innovative insurance organization founded in 2003 with a vision of giving small and mid-sized businesses a proven strategy for affordable employee health insurance – our customers pay only for the healthcare they use while keeping the savings. Our unique self-funded group captive solution delivers high quality of care, mitigates risk, reduces claims volatility, controls costs, and returns savings right back to the employers and employees– a win-win all around. Hundreds of businesses rely on Roundstone as their trusted health insurance provider, saving them an average of 20 percent annually over the past decade. Roundstone is headquartered in Lakewood, Ohio with representatives throughout the United States. For more information on Roundstone, visit www.roundstoneinsurance.com
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