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Empowering employees: The transformative impact of stop loss captives on healthcare choices

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According to a study by the RAND Corporation, Indiana ranks as the seventh most expensive state for hospital costs. And while debates about those costs will undoubtedly follow legislators back into session early next year, there’s gaining momentum about the transformative impact of stop loss captives on employer healthcare programs—momentum that could improve talent engagement and retention while simultaneously increasing bottom line profits.

Traditionally, healthcare options have been largely dictated by organizations offering limited choices to employees, a competitive disadvantage for companies hoping to retain talent. But stop loss captives bring with them a paradigm shift. Through stop loss captives, organizations can work with their insurance providers to build custom solutions for their healthcare plans—allowing companies and employees freedom to tailor plans according to their preferences and needs. By actively participating in shaping their healthcare coverage, selecting insurance and benefits providers and more, companies and their staff gain newfound autonomy, boosting employee satisfaction and engagement—and at Blackwell Captive Solutions, we’re already seeing our clients’ returns on their investments. 

Through stop loss captives, we’re able to write the risk to a company’s preferred benefit program rather than imposing sub-solutions on them. This unique feature empowers our clients to make choices that align with their company culture, needs, and circumstances—benefitting the entire organization. Instead of human resource professionals bearing the brunt of open enrollment without participating in renewal and vendor selection, stop loss captives are game-changing. They enable collaboration that empowers companies to offer more diverse benefit plans and structures, which often pleases executive leadership and financial teams by helping to reduce premiums significantly. In best-case scenarios, stop loss captives provide a competitive edge in recruiting and retaining top talent.

As businesses in Indiana and across the country continue to compete for top talent, stop loss captives provide a unique recruiting pitch. There’s power in telling a prospective employee that a company’s healthcare enhancements will keep their annual premiums at the same level. This doesn’t just demonstrate an organization’s commitment to employee well-being, but also, it gives employees a sense of ownership in their healthcare choices. At Blackwell, we’ve seen how this empowerment leads to a more engaged and satisfied workforce, which directly increases productivity and retention.

The emergence of stop loss captives in the world of employee benefits is a transformative force that puts healthcare decisions where they belong—in the hands of all employees. To explore stop loss captives, please visit Blackwell Captive Solutions online at blackwellcaptive.com/.

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