Doug Truax, founder and CEO of Everlong Captive, Captive Health Insurance recently said that rate caps are a tool that was made a long time ago that should be left in the past.

During a June 23 podcast, Truax said, "Rate caps are outdated archaic remnants that should be sunsetted in my opinion."

Rate caps were one of the only tools available in the risk management toolkit. It was this blunt instrument that met the basic needs and added very limited sophistication of the times 50 years ago when they were created. If your clients are hitting their rate caps, something's really wrong.

"When your client is hitting their rate cap, you should be asking why. Hitting your rate cap as an employee can be very scary because now you are no longer able to be covered by your insurance provider. With Everlong Captive, these caps are more flexible as opposed to a rate cap with a traditional insurance provider," Truax said. 

With Everlong Captive, you are able to communicate with other cell owners to communicate policies that have worked well for your company and employees. There are innovative ways through Everlong Captive that are able to suit your company's needs as well as keeping the overall cost of everything down because you are now the employer of your health insurance.

Everlong Captive is for you if you are tired of going about paying the same high premiums, only for your employees to not get the coverage they need. With Everlong Captive, they have recreated the way we look at health insurance and made it so the power is in the employer's hands as opposed to a separate traditional insurance company. With making this switch, small business owners and brokers are able to stabilize this aspect of their company with an affordable, transparent health care plan that is self-funded.