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This package is split into two portions namely Self Insured (outpatient services) and the Insured portion (hospitalisation). Corporate decides on the risk to take and that portion becomes the corporate savings fund and a portion of the monthly contributions is channeled towards the savings fund. The fund will earn investment returns. The surplus on the savings portion can then be used for improvement of benefits, contribution holiday and on termination can be paid back to the corporate. We are currently working on a post retirement benefit which will be offered to corporates soon.
The pricing on the insured portion is done by Altfin, whilst the outpatient portion pricing is done on an individual company basis depending on utilization levels. The corporate will have the privileged to decide the level of cover and benefits to be provided. Premiums for this risk portion will be reviewed per client basis depending on corporate risk profile and utilisation.
Please note that with the funded packages the corporate takes the risk of having a deficit or enjoying a surplus.