Haris Ashley
All Savers Insurance Company is a low-cost health insurance option for small business owners offered through UnitedHealthcare. UnitedHealthcare is committed to making healthcare more affordable, supportive, and accessible. All Savers plans are offered as traditional insurance or self-insurance, with fixed monthly payments and protection from large medical claims. This article will explore how to take out medical insurance with UnitedHealthcare's All Savers plans.
| Characteristics | Values |
|---|---|
| Year of operation | Since 1986 |
| Parent company | UnitedHealth Care |
| Year parent company was founded | 1977 |
| Type of insurance | Low-cost health insurance for small business owners |
| Types of plans | Fully insured or self-insured |
| Administrative services | Provided by United HealthCare Services, Inc. or their affiliates, and UnitedHealthcare Service LLC in NY |
| Excess Loss insurance coverage | Provided by All Savers Insurance Company |
| Underwriter of Stop-loss insurance | UnitedHealthcare Insurance Company or their affiliates, including UnitedHealthcare Life Insurance Company in NJ, and UnitedHealthcare Insurance Company of New York in NY |
| Website | www.myallsavers.com/myallsavers |
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What You'll Learn
- All Savers Insurance Company offers low-cost health insurance for small businesses
- All Savers plans are offered as traditional insurance or self-insurance
- All Savers is not licensed to do business in New York or outside the US
- Level Funded plans are based on medical and pharmacy claims of plan participants
- UnitedHealthcare has sponsored charities like the UnitedHealthcare Children's Foundation
All Savers Insurance Company offers low-cost health insurance for small businesses
All Savers Insurance Company, offered through UnitedHealthcare, provides low-cost health insurance for small business owners. All Savers plans are designed to keep healthcare costs low and are offered as traditional insurance or self-insurance. The choice of plans includes either a fully insured or self-insured option.
All Savers Insurance Company's product offerings include PPO and EPO plans. They pay commissions to brokers when insurance coverage is issued in response to applications the brokers submit on behalf of their clients. Commissions are paid on a per employee/per month basis, or as a percentage of the premium paid. In some states, commissions are higher in the first year of coverage and lower in subsequent years.
Alternate Funding products are marketed under the All Savers brand. Excess Loss insurance coverage is provided by All Savers Insurance Company, a UnitedHealthcare company. The underlying medical coverage for the Alternate Funding products is not an insured product. Administrative services are provided by United HealthCare Services, Inc. and its affiliates, including UnitedHealthcare Life Insurance Company. All Savers is not licensed to do business in the state of New York or outside of the United States.
To learn more about All Savers health plans and services, you can visit their website or call 1-800-291-2634 to obtain details about product availability. For specific product brochures, you can call the same number.
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All Savers plans are offered as traditional insurance or self-insurance
The All Savers website provides information about their health insurance products, which are either underwritten, administered, or provided by All Savers Insurance Company, UnitedHealthcare Life Insurance Company, UnitedHealthcare Insurance Company, Golden Rule Insurance Company, or All Savers Life Insurance Company of California. The website also states that administrative services may be provided by Savvysherpa Administrative Services, LLC.
It is important to note that All Savers is not licensed to do business in the state of New York or outside of the United States. The website provides a phone number (1-800-291-2634) to obtain details about product availability in specific states. The website also emphasizes that the information presented on health insurance products is a general summary, and for complete details, individuals should refer to the All Savers Health Insurance brochure, which can be obtained by calling the same phone number.
In terms of the specific differences between traditional insurance and self-insurance, a fully insured plan bases health care costs on a wider pool, including businesses with potentially higher overall medical claims. On the other hand, a Level Funded plan, which is a type of self-funding, bases costs only on the plan participants' medical and pharmacy claims. This means that if the claims are lower than expected, the health plan may receive a surplus refund at the end of the year. Additionally, with a Level Funded plan, your business may be exempt from certain Affordable Care Act (ACA) regulations and state premium taxes, providing cost savings.
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All Savers is not licensed to do business in New York or outside the US
All Savers, a UnitedHealthcare company, provides Excess Loss insurance coverage. The underlying medical coverage for the Alternate Funding products is not an insured product. It is important to note that All Savers is not licensed to do business in the state of New York or outside of the United States. The website and the information provided on it are not intended to be accessed or used by residents of New York or any other country besides the United States.
The All Savers Health Plans are designed to keep healthcare costs low for small-business owners. They are offered as either traditional insurance or self-insurance. UnitedHealthcare, the parent company of All Savers, provides administrative services to the plan sponsor and its affiliates. These services may also be provided by Savvysherpa Administrative Services, LLC.
To learn more about All Savers Health Plans, you can refer to the All Savers Health Insurance brochure, which provides comprehensive information about benefits, exclusions, limitations, and renewability terms. You can also contact their Broker Services toll-free number for assistance with any questions regarding registration or completing the online enrollment application.
Additionally, UnitedHealthcare offers Level Funded health plans, which are designed to balance cost savings with benefits that employees value. These plans are based on the medical and pharmacy claims of plan participants, locking in a fixed monthly payment for the plan year. Level Funded plans also offer stop-loss insurance, protecting businesses from unexpected high claims and providing additional protection from large catastrophic medical claims.
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Level Funded plans are based on medical and pharmacy claims of plan participants
UnitedHealthcare offers Level Funded health plans that are designed to balance cost savings with benefits that employees want. Level Funded plans are based on the medical and pharmacy claims of plan participants. This means that the employer assumes some risk along with the insurer, at a lower cost compared to a fully insured plan.
With a Level Funded plan, employers pay a fixed monthly fee, which covers the maximum claims liability, administrative fees, and stop-loss insurance to protect against unexpectedly high claims costs and utilization. This type of plan differs from a purely self-funded arrangement, as it provides additional protection from large catastrophic medical claims with a stop-loss insurance policy. This means that employers won't have to pay more for medical and pharmacy claims throughout the year or at the end of the plan year, even if they have high claims costs.
The fixed monthly payment remains the same regardless of the actual plan participant medical and pharmacy claims. This means that if the plan participants' medical and pharmacy claims are lower than expected, the health plan may receive a surplus refund at the end of the year. This refund can be substantial if the plan participants have low medical and pharmacy claims.
There are two types of stop-loss insurance built into a level-funded plan: individual and aggregate. Individual stop-loss protects the plan if claims costs are higher than expected for a particular plan participant. This means that employers don't have to pay more for health-related claims beyond their threshold, even if the claims costs are high.
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UnitedHealthcare has sponsored charities like the UnitedHealthcare Children's Foundation
UnitedHealthcare is a large US health insurance company that offers a range of health plans and services to individuals and employers. One of their offerings is the All Savers plan, which is designed to keep healthcare costs low for small businesses. All Savers plans are available as traditional insurance or self-insurance. Excess Loss insurance coverage is provided by All Savers Insurance Company, a UnitedHealthcare company.
UnitedHealthcare has also demonstrated its commitment to social responsibility and community support through its sponsorship of charities, such as the UnitedHealthcare Children's Foundation (UHCCF). The mission of the UHCCF is to enhance the quality of life for children across the United States by providing medical grants. These grants facilitate access to medical-related services that may not be fully covered by the available commercial health benefit plan. This includes services that have the potential to significantly improve a child's clinical condition or quality of life.
The impact of the UHCCF can be seen in the stories of children like Jayden, a three-year-old boy with Down syndrome and congenital heart defects, who received grants for private speech therapy. Another beneficiary is Madison from Oklahoma, who was born premature and diagnosed with triplegic cerebral palsy. Thanks to the foundation's support, Madison has gone from barely walking to running, dancing, and even playing soccer. Katelyn, who was diagnosed with glaucoma at birth and later with autism, received grants for eye surgery, speech therapy, and occupational therapy, enabling her to communicate more effectively.
The UHCCF empowers families to focus on their child's well-being, providing a "lifetime of opportunities" as one family described their experience. UnitedHealthcare's sponsorship of charities like the UHCCF demonstrates their commitment to making a positive impact beyond their business operations.
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Frequently asked questions
All Savers Insurance Company is a low-cost health insurance option for small business owners offered through UnitedHealthcare. The company has been in operation since 1986 and its parent company, UnitedHealth Care, was founded in 1977.
All Savers plans include either a fully insured or self-insured option. The plans are designed to keep the cost of healthcare low and are offered as traditional insurance or self-insurance.
For complete information about benefits, exclusions, limitations, and renewability terms, you can read the All Savers Health Insurance brochure. To receive specific product brochures, call 1-800-291-2634.
A fully insured plan's healthcare costs are based on a wider pool, including businesses that may have higher overall medical claims. On the other hand, a Level Funded plan is a type of self-funding where costs are based only on your plan participants' medical and pharmacy claims.
