Personalizing the healthcare experience for employers.
Our offerings
Large Group Fully Insured Health Plans
If you have 51 or more full-time employees, our Large Group Fully Insured Plans might be the perfect fit. With a fully insured plan, Balanced Insurance takes on the insurance risk and administrative duties, while you pay a fixed premium. Here’s what you can expect from our large group plans:
Comprehensive Coverage: We offer a full spectrum of health benefits to cover your employees and their families. This includes preventive care (annual check-ups, vaccines, screenings), primary and specialty physician care, hospital stays, emergency services, maternity care, mental health services, prescription drug coverage, and more. Our plans meet or exceed all ACA requirements for essential health benefits, ensuring your employees have the protection they need.
Predictable Costs: Fully insured means you pay a fixed monthly premium based on your plan and number of enrolled employees. This gives you budget certainty throughout the year – no surprise bills. Balanced Insurance absorbs claim cost fluctuations. Even if one of your employees incurs very high medical bills, we cover those costs, not you. (Your premium may adjust at renewal based on overall claims trends, but during the plan year your costs are stable.)
Broad Provider Networks: We’ve curated expansive provider networks across Utah. Employees can access leading hospitals, clinics, and physicians statewide. For example, our networks include major health systems like Intermountain Healthcare and University of Utah Health, as well as a wide selection of primary care doctors and specialists. A broad network means your employees can continue seeing their favorite doctors or conveniently find care wherever they live or travel in Utah.
Level-Funded Health Plans
For employers who prefer self-funding or level-funding their health plan, Balanced Insurance provides Employer Stop-Loss Insurance to protect you from large claims. This solution is popular with mid-sized and smaller employers (as well as some larger ones) looking for cost savings and flexibility beyond a traditional fully insured plan. Here’s how it works and what we offer:
What is Stop-Loss Insurance? When you self-fund a health plan, your company is responsible for paying its employees’ medical claims directly. This can save money when claims are low, but it exposes you to potentially huge costs if several large claims occur. Stop-loss insurance solves that problem by reimbursing the employer for claims above a certain threshold – effectively capping your exposure. Balanced Insurance’s stop-loss coverage ensures that one expensive medical case won’t devastate your budget.
Level-Funded Plan Option: For small and mid-sized employers, we often structure self-funding with stop-loss as a level-funded plan. This means we calculate an estimated monthly cost (covering expected claims, stop-loss premium, and admin fees) and you pay that fixed amount each month – similar to a premium. This level payment simplifies budgeting: you get predictable costs like a fully insured plan, with the bonus of potential savings. If actual claims come in lower than expected for the year, you receive a refund of the surplus (often a portion or all of the unused claims fund). If claims are higher than expected, your specific and aggregate stop-loss kick in, so you never pay more than the agreed max. In short, level funding provides “financial certainty of a fully insured plan with the cost-saving opportunity of a self-insured plan”.
“As a small business, switching to Balanced’s level-funded plan was the best decision we made. We got a refund on unused claim funds last year and never had to worry about big claims thanks to the stop-loss protection. The process was smooth, and the local support is outstanding”
— OWNER, SALT LAKE TECH STARTUP
