PHILADELPHIA, Nov. 1, 2022 (GLOBE NEWSWIRE) — Pareto Health reached an important milestone in the year 2000th Employer joining its captive program, marking 715,000 insured lives. The company that reduces costs and volatility self-insured health insurance benefitslaunched its captive program in July 2012 and has grown to become the nation’s leading manager of captives for employee benefit groups.
The addition 2000th Captive member represents significant growth for the program over the past 12 months. Given the dynamics of the market and with part of the new 2022 business season still to come, these numbers will increase by the end of the year.
Employers across the country have turned to the ParetoHealth solution to reduce health insurance costs and improve the health of their employees, spurred by rising medical costs and economic inflation. These factors drive employer demand for the long-term, sustainable performance strategies offered by ParetoHealth.
those years average cost of fully insured premiums was $7,911 for individual insurance and $22,463 for family insurance, and inflation will increase these costs. Premiums are increasing at a rate that many employers cannot sustain. Data shows that ParetoHealth saves employers an average of 7.5% over fully insured rates in the first year. The savings grow over time, so an employer facing $2 million in fully insured premiums this year could save over $150,000 in their first year with ParetoHealth, $1.3 million in five years dollars and could save $5.8 million in ten years. The solution works, as evidenced by the company’s explosive growth and reinforced by ParetoHealth’s 97 percent member retention rate.
“This is an incredible achievement and the result of the passionate work of the ParetoHealth team, our insurance advisor partners, our sponsorship partners and most importantly the employers who have grown into a strong community of captive members. Together we have created one of the only “network effects” in the benefit area. The greater the number of…
