RMHP Shared-Funding
Are you looking for an alternative funding option for your health benefits program? The RMHP shared-funding health benefits plan may be the answer. This innovative funding option is available for employer groups with as few as 51 employees, and offers all of the following benefits:
- Security: Fixed costs for administrative charges, risk/margin fees, and pooling charges.
- Simplicity: Many of the advantages of self-funding without all the complexity and risk.
- Sharing: Unique risk-reward corridors let you share financial risk with RMHP and get premium dollars back for good claims experience.
- Service: Great customer service and solid provider relationships with beneficial pricing arrangements.
- Stability: A local, not-for-profit health plan with more than 30 years of commitment to Colorado.
Here’s how it works:
- You choose the RMHP health plan that’s best suited for your employer group needs
- You choose a Risk-Reward Corridor (see the graphic below)
- The Risk-Reward Corridor is an equal percentage above and below your Claims Target. Your Claims Target is the expected amount of claims costs based on your group’s experience, medical underwriting, and demographics.
- If you don’t use all of the premium dollars available for claims up to your Claims Target, you get a refund from RMHP. If your claims exceed the premium dollars available, you will pay the difference to RMHP, but only to the top of your Risk Corridor.
- You pay no claims costs above your Risk Corridor
- Actual premiums include your Reward Corridor, minimum claims costs, and fixed costs
To learn more, please
contact RMHP or your insurance broker today.