New choices offer savings and flexibility

Employers today need more flexibility to find the right fit for their business, budget, and workforce. So we offer practical, workable solutions that help you find the best balance of cost and coverage for your team.

Traditional funding

Fully insured

This is the traditional funding option that most employers choose. Monthly premiums allow for predictable costs because BCBSRI covers all plan claims expenses.

Self funded

Larger employers can cover their employees’ claims themselves, paying BCBSRI to administer the plans and provide insurance for very large claims, called “stop loss.”

Health savings accounts (HSA)

Whether fully insured or self insured, employers can offer plans that include an integrated HSA. Employees can put pre-tax payroll deductions into their account and then use that money to help pay their healthcare expenses. This can offset high deductibles that help employers reduce costs.

New funding options

Level-funded

New for 2027: A level-funded plan combines the predictable monthly costs of a fully insured plan with the savings opportunities of self-funding. Employers can still offer the group coverage that attracts many job seekers, and yet gain budget stability, protection from large claims, and the possibility of receiving money back when claims run lower than expected.

Individual coverage health reimbursement arrangement (ICHRA)

An ICHRA could be an option for employers with budget constraints. Instead of offering one group health plan to everyone, the employer provides a monthly allowance for health coverage. The employees use that money to buy their own individual health insurance plans.