BevCap Sponsored Captive Insurance, Inc. is a cell captive, with its first cell being BevCap Health, a heterogeneous group captive. BevCap Health is a member-driven strategy to provide a health benefits solution for employers based on the desire to gain better control and reduce the costs associated with employee healthcare benefits. BevCap Health is an opportunity for employers to aggregate, share best practices, mitigate risk and bend the trend to reduce the long-term cost of healthcare benefits.
BevCap Health is a self-funded health plan with group risk sharing. Members implement separate and distinct health plan designs, yet administer the plans as a group – leveraging the buying power of economies of scale. BevCap’s strategy is designed to correct the deficiencies driving dramatic year-over-year cost increases in the fully-insured market and help optimize current self-funded plans.
BevCap Health was founded in February 2013 with Standard Sales Company out of Odessa, TX. Today BevCap Health is comprised of 5 additional participants: Krey Distributing (St. Peters, MO), L&F Distributors (McAllen, TX), Jordano’s (Santa Barbara, CA), Andrews Distributing (Dallas, TX), and TriEagle Sales (Tallahassee, FL). Together BevCap Health covers over 3,000 employee lives.
John Coy of Andrews Distributing said, “The BevCap Group Health program provides Andrews with a toolbox of individual benefits that will not only allow us to actively manage claims costs but also provide the highest degree of wellness for our employees.”
Partners of BevCap Health include: USA Risk, Berkley Accident & Health, LLC, Ameriben, Envision Rx, Healthcare Strategies, and Cornerstone Risk Solutions.
Story submitted by Leslie Swan, BevCap Management