Director of M3 Insurance Jason Nordby shared his thoughts on a solution to the cost of group health insurance, Milwaukee BizTimes reports.
Here are four thoughts.
1. Mr. Nordby entered the insurance business in the early 1990s. He saw two big issues plaguing the health insurance market: unsustainable costs and a lack of solutions to solve them.
2. He claims to have figured it out 22 years later. Costs rise at a rate of two to three times that of traditional inflation, and employers feel helpless when it comes to identifying and implementing ways to address the issue; group health captive.
3. Mr. Nordby said captive insurance — a policy that allows multiple groups to enter into a collective and seek out insurance as one large entity instead of several smaller firms — gives businesses the greatest purchasing power.
4. Captive insurance can be used by all sorts of employers, and can help to lower the high cost policies companies often provide their employees.
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