Jul 07, 2020
Cigna added two financial enhancements to the Level Funding Product for Small Group Employers (<100 employees).
1. Every quote will include an administrative credit, equal to, at minimum, the amount of one month of the fixed costs (administration and ISL/ASL premium). The amount of the credit can increase to 3 or 6 months of the fixed costs, depending on the results of GRx. This is an up-front credit that can be factored into the client’s total plan year costs.
2. Every quote will include a Guaranteed Surplus Credit of $200 per enrolled member. This is the credit that Level Funding clients receive, calculated in the third month following the plan year. This is a minimum guarantee; if the actual surplus is greater than the guaranteed minimum, the higher “earned” amount will be credited. In order to receive this credit, the client must have renewed and be an active Cigna client.
