WELCOME TO NOVO BENEFITS

Group Health Benefit Architects

Customized Benefits

Significant Savings

Novo Benefits was founded in 2007 as a premiere self-funded solution focused on bringing Fortune 500 benefits to mid-market employer groups. As self-funding experts we are constantly searching for the best products and services to help our clients maximize their benefits plans and stretch their dollar.

Our Unique Approach

Insurance is complicated and expensive. It’s easy to get lost in the endless options available for group health benefit plans. Novo Benefits specializes in creating self-funded insurance solutions that change the way you see benefits. Our unique approach can help you eliminate wasteful spending and let your plan do what it should—take care of your employees without breaking the bank.


The Novo Benefits Difference begins with four basic philosophies that set us apart.

Independence

You can trust that we will fight for you. Our refusal to accept any overrides or hidden revenue streams ensures you get the best deal and that your interests are at the center of every solution presented and decision made.

Transparency

You never need to worry about what you don’t know. Because of our commitment to full transparency you always have complete insight into all revenue streams, contract terms, and plan components. We will educate you every step of the way.

Tailor Built

Each plan we build is customized to meet your specific health care benefit goals, regardless of the size of your organization or the number of employees. We constantly vet industry offerings so we can bring you cutting edge solutions.

Expertise

Our team has been handpicked from the self-funded industry bringing the best talent available in the market. Let our expert team guide you through the confusing world of insurance.

If you can think it, we can build it

As benefit architects that provide customized solutions for group health plans, we always say "if you can think it we can build it." Novo Benefits provides cutting edge solutions that not only contain insurance costs, but provide the best benefits available for members.

Frequently Asked Questions

Do you have questions about health benefits and insurance plans? If you cannot find the answers to your question below, contact us for guidance from our team of experts.

Self-funding is an alternative method of paying for your company’s health insurance. The easiest way to understand it is to compare it to the more traditional fully insured program. Insurance is all about the sharing of risk. When you buy regular insurance, you pay a set premium to the insurance company. The premium you pay is based on a process called underwriting. The insurer considers the health information of your employees, the size of your company, and past claims experience, to come up with a premium that they calculate will cover the cost of your anticipated claims and still provide them a healthy profit.

Under a self-funded model, instead of paying a set premium to an insurance carrier, your organization pays claims as they are incurred by your employees. With most self-funded health plans, particularly with small to mid-size employer groups, the company also purchases stop loss insurance to limit their risk exposure. To learn more, click here.