More than 60% of Americans with group coverage have a self-funded health plan.
- Kaiser Family Foundation, 2016 Employer Benefits Health Survey

Self-Funded Health Plans

40 Square offers a self-funded health plan with six benefit options to choose from. Additional benefits such as dental, vision, and life are also available.

Self-funded health plans assume the financial risk for providing health care benefits. The 40 Square Consortium assumes the financial risk of the health plan being offered. Here’s how it works:

  • A trust is established
  • Stop-loss (reinsurance) is purchased to limit the risk and protect the health plan
  • A third party administrator is contracted to provide administrative services

Self-funded plans are governed by the Federal Employee Retirement Income Security Act (ERISA) and are attractive because of the greater level of flexibility that comes with being able to tailor the plans based on the plan participant’s needs. Self-funded health plans allow for a more hands-on approach to the health care dollar. Feedback from health plan participants, along with claims utilization data, provide valuable information to make enhancements to the plans over time, thereby creating plan offerings that best fit the needs of its members. As self-funding matures over time, it allows for greater control and transparency of the health plan.

Health Plan Offerings

The 40 Square Consortium has six health plans from which to choose, giving you the opportunity to make a selection that best fits the needs of you, your family, and your employees. Similar to traditional health plans, self-funded plans have an annual deductible, coinsurance and copays for which you are responsible.

 

Here are some of the benefits included with every plan:

 

  • Routine preventive care paid 100%
  • Well-child care paid 100% up to age six
  • Routine doctor office visits, subject to a deductible or copay
  • Prescription drugs, subject to a deductible or copay
  • Hospital care and services
  • Diagnostic X-ray and lab testing
  • Ambulance
  • Chiropractic care
  • Medical equipment
  • 24/7 telemedicine coverage
  • Patient advocacy support
  • Cigna National Provider Network

Additional 40 Square Benefits

Illustrative Rate Examples

Employer #1 Willmar, Minn.
Employer #2 Roseau, Minn.

Family of Four

Dad – 28 yrs. old. Mom – 27 yrs.old.

Child 1 – 3 yrs old. Child 2 – 1 yrs.old.

On a 40 Square health plan with a $6,550 individual deductible ($13,100 family), this family is estimated to pay $1,088 a month for health coverage.

Single

Single – 56 yrs. old.

On a 40 Square health plan with a $5,550 individual deductible, this individual is estimated to pay $574 a month for health coverage.

Married Couple

Husband – 45 yrs. old.

Wife – 43 yrs. old.

On a 40 Square health plan with a $5,500 individual deductible ($11,000 family), this couple is estimated to pay $765 a month for health coverage.

Managing Medical and Prescriptions Drug Costs

40 Square offers a self-funded health plan with six benefit options to choose from. Additional benefits such as dental, vision, and life are also available.

Self-funded health plans assume the financial risk for providing health care benefits. The 40 Square Consortium assumes the financial risk of the health plan being offered. Here’s how it works:

HealthiestYou

  • Physicians are available 24/7/365 to diagnose, treat, and prescribe, with no copay or consultation fee, via phone or video consultation
  • Has the largest telehealth network in the country
  • HealthiestYou can handle over 70% of traditional doctor office visits
  • Physicians are board certified licensed and reside in the U.S.

Alithias

Patient advocacy through Alithias provides plan participants with information and support to make better health care decisions. Alithias combines data-driven intelligence and participant advocacy to lower health care costs, improve quality, and change behavior.

Insurance Agents

The 40 Square Consortium is committed to providing an effective communication strategy to help enable plan participants to engage in healthful behaviors and decisions. If you are interested in more information. Minnesota licensed insurance agents are available regionally throughout Minnesota by phone or in-person through AdvisorNet. They can be reached at 1-800-643-5822. Ask for Lisa Adolphson, Marie Bell, Steve Hollatz or Jordan VanCleef. You can also email them at healthquote@advisornet.com.