July 14, 2020 – Hamilton Square, New Jersey – Berkley Accident and Health, a Berkley Company, is proud to announce BevCap Health as the winner of our first-ever Berkley Edge Excellence in Health Risk Management award. The Excellence in Health Risk Management award recognizes a stop loss group captive program that has demonstrated strong health risk management strategies and best practices over the past year.
BevCap manages multiple health captives, including both heterogenous and homogenous captive programs. This year’s award goes to BevCap’s single-industry, homogenous captive focusing on beer distribution companies. BevCap’s goal this year was to increase usage of surgical center medical tourism during 2019.
In the first quarter of 2019, surgical center medical tourism usage among health plan participants was at 30%. In an effort to encourage utilization, the members made adjustments to their plan documents, and none of the changes included penalties to their employees. As a result, usage of surgical center medical tourism jumped to 50% in the second quarter of 2019. In addition, the captive members had estimated savings of almost $1 million in the first 6 months.
“We’re very honored to win this award. Our members are truly committed to employee health and well-being, so this recognition is a tribute to all the hard work they’ve done,” said Jason Dixon, Partner at BevCap. “We’ve seen our hard work really pay off this year, and we look forward to further improvements in the years to come.”
About Berkley Accident and Health
Berkley Accident and Health is a member company of W. R. Berkley Corporation, a Fortune 500® company. Berkley Accident and Health provides an innovative portfolio of accident and health insurance products. It offers four categories of products: Employer Stop Loss, Group Captives, Managed Care (including HMO Reinsurance and Provider Excess), and Specialty Accident. The company underwrites Stop Loss coverage through Berkley Life and Health Insurance Company, rated A+ (Superior) by A.M. Best. For more information, please visit www.BerkleyAH.com.
BAH AD 2020-53