By John Borrowman, CPC
Borrowman Baker, LLC, BV Staffing + Consulting
Small BV practice leaders have a new option for providing quality healthcare benefits to employees, while leveraging those benefits for additional financial savings.
In a time when insurance companies are pulling out of markets, losing money, and raising premiums, FreedomCare has a creative approach to self-funding that gives smaller BV practices more control over the structure of their healthcare plans and lets them mitigate cost exposure.
FreedomCare started in 2013 with modest plans that let employers be ACA compliant. In response to customer requests, FreedomCare now offers benefit plans in the Bronze, Silver and Gold categories. What is more important to the small BV practice leader is that FreedomCare can customize an employer’s plan to meet more individualized needs. Plans can change deductibles and co-pays more creatively, for example.
Your plan is self-funded, using the “captive” mechanism outlined in a 1970s tax ruling. FreedomCare has coupled these benefits with a business trust into an entity they call a “self-directed insurance trust.” As the owner of the plan and the captive, you can reap the benefits of a savvy financial vehicle used by 90% of Fortune 500 companies.
After your first year with FreedomCare, you can bring other insurance under the captive and enjoy expanded financial advantage.
Best of all, FreedomCare is prepared to work with you as a solo practitioner in need of coverage for you and your family. You can get more information at FreedomCare’s website.