Self-Funding Solved
Providing transparency in employee benefits financing.
The Value of VERIS
VERIS is an employer’s health benefits solution. Consultant-driven and designed for the long-term, VERIS allows groups to see exactly what they’re paying for each year – and retain anything they don’t use. VERIS is not a captive and is powered by Benecon’s independent consortium risk model, with no group unfairly subsidizing another. Once a group is part of VERIS they are guaranteed renewable with rate caps, no new lasers and no re-underwriting – ever.
In Their Own Words
Industry-leading benefits consultants trust VERIS to forecast future costs with precision and keep self-funding risks in check – no hype, all outcomes.
Each VERIS group maintains its own claim fund account and does not commingle risk, but benefits from Benecon’s stop loss purchasing power.
Once a group is part of VERIS, they can’t be kicked out of the program for a “bad” claims year.
Benecon’s independent actuaries set the rates and come to the most appropriate claim fund projections, not the carriers.
Once a group is part of VERIS, there is no re-underwriting; which means no lasers at renewal.
Own the Self-Funding Conversation
Watch Now: Our in-house experts show you how to simplify complex risk models, spotlight cost-saving strategies and safely self-fund through the VERIS Consortium.
Fill out the form below to learn how top advisors win and keep business—straight from the team partnering in their success.
A Better Way To Fund Your Health Plan
VERIS pulls the positive elements from each funding type while eliminating the risks.
Cost Containment Solutions with VERIS
Identify and implement strategies year-round to address the most pressing issues now.
Credibility
More than three decades of program administration.
Financial Leverage
With nearly a billion in stop-loss premium, VERIS leverages Benecon’s group purchasing power in the stop loss market.
Independent Actuaries
Our goal is to ensure rates are set fairly – we’re not chasing financial returns.
Transparency
100% access to de-identified data & total reporting of where every penny is spent.
The VERIS Difference
Explore how VERIS stands up against other funding methods.
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VERIS | Stand Alone Self-Funding | Fully Insured Funding | Captives |
Guaranteed annual premium for the plan year |
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Lower administration costs |
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Only pay actual claims plus fixed expenses |
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Greater flexibility in plan design |
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Stop loss renewals based on actuarial projections, not loss ratio |
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Stop loss insurance premiums managed to an industry-leading overall loss ratio |
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No lasering at renewal or late discovery of submitted claims |
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Member manages all claim fund surplus |
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Enables employers the safest method to self-fund their benefit plans |
Is VERIS Really that Different?
One VERIS group decided to leave their captive arrangement for the following reasons:
- Stop loss premium was $267,868 less with VERIS
- Max funding was $604,416 less with VERIS
- The captive had a 125% funding corridor vs. VERIS’ corridor of 110%
- Expected savings in VERIS of $489,056 vs. the captive
- VERIS has no reserve requirement and no capitalization requirement
Want to Know More?
If you are a Broker, Consultant or Employer and you have questions or are ready to get going, we are here to help.