“With the growing popularity of captives, MediGroup has determined that it should include the offering of a captive program as part of its mission to provide leadership and education to its members,” said founder and CEO of MediGroup, Andy Klearman.
(PRWEB) November 16, 2016
Captive Alternatives, the insurance consultancy that pioneered the Protected Captive™ business model, has announced that they have entered into a sponsorship agreement with MediGroup Physician Services. Under the terms of the agreement, MediGroup will sponsor services from Captive Alternatives (CapAlt) to their members for establishment and administration of captive insurance companies (CIC).
“With the growing popularity of captives, MediGroup has determined that it should include the offering of a captive program as part of its mission to provide leadership and education to its members,” said founder and CEO of MediGroup, Andy Klearman. “Such services will enable physician members and MediGroup to further their mission to promote the science and art of medicine, the care and well-being of patients, the protection of the public health and the betterment of the medical profession.”
A captive allows a business owner to create a formal, self-funded risk management program while obtaining adequate insurance coverage for “hidden” business risks. Captive insurance premiums are tax deductible to the medical practice, and the Captive’s excess surplus funds can be used by the organization for future business investment. Captive services offered by CapAlt using the enhanced model known as a Protected Captive will provide an opportunity for qualifying individual MediGroup members, as well as MediGroup member organizations such as group practices and individual doctors to adopt the same benefits currently enjoyed by most Fortune 500 companies.
“Setting up a captive insurance company can involve layers of complexity and the learning curve is often so steep that it deters qualified applicants,” said founder and CEO Mark Jacobs, Captive Alternatives.
With Protected Captive, CapAlt can help create and then manage a captive for a MediGroup member in a few weeks, rather than months, depending upon requirements.
“We anticipate that the ability to establish a Protected Captive quickly is going to be very beneficial for MediGroup members and look forward to working with MediGroup Physician Services to extend the benefits of a Protected Captive to their members and related associations,” concluded Jacobs.
A special website has been created for MediGroup Members to access and sign up for this new savings opportunity in the MediGroup contract portfolio. Also, an additional savings opportunity exists for all MediGroup Members by using this site solely as the channel for contract sign up and access. The website for all MediGroup Members is: captivealternatives.com/medigroup.
About MediGroup Physician Services
Based in the heart of St. Charles, Missouri, MediGroup is the single largest non-acute care group purchasing organization (GPO) in the U.S. MediGroup works alongside its sizable roster of members - which includes surgical clinics, non-acute care facilities and physician offices nationwide - and helps them cut annual costs by connecting them with only the very best services and products. MediGroup specifically identifies those products or services that can maximize a member’s profitability and efficiency. This allows physicians to better engage patients with the proper care and consideration they deserve. MediGroup plays a significant role in pushing the healthcare industry forward by putting the needs of members first. http://www.medigroup.com/
About Captive Alternatives
Captive Alternatives is a leading consultant helping business owners control their cost of risk through the use of captive insurance companies. CapAlt’s innovative business model, the Protected Captive™, helps owners manage hidden risks, transfer high exposure to third parties, and financially reward themselves for effective risk management. As a result of their Protected Captive™, our clients cover a wide variety of hidden exposures, and achieve all their strategic objectives – both corporate and personal. CapAlt delivers custom risk management solutions through an industry-first Puerto Rico International Insurer, and manages operations from their offices in Atlanta and Puerto Rico. For more information visit: http://captivealternatives.com.
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