Woodbridge-based Triton Benefits & HR Solutions on April 6 launched a program that allows employers to combine employees claims experience with other like-minded businesses as a means to control medical insurance costs.
The latest captive insurance program targets organizations with up to 5,000 employees and provides insurance options from leading re-insurers such as those from the networks of United Healthcare, Aetna and Cigna.
Unlike a traditional insurance plan, the goal of a captive program is to reduce the risk of its member companies while providing flexible, high-quality insurance coverage.
The impact of the COVID-19 pandemic has changed the way many organizations are conducting business. Triton’s captive program enables employers to better manage their total cost of risk and provide control over health care costs with greater flexibility of benefit plan design. Working with clients, Triton utilizes analytics to help employers align their organization’s needs with the best health care plan options and budget.
“Providing group health care options for our employees and their families is a key component to our firm,” explained MLD Mortgage Chief Financial Officer David Zilberman. “Triton recommended a self-funded benefit plan that was more comprehensive than what we previously had, and it’s proved to be ideal for all our employees.”
