LevelFunded Health
Self-funded health benefit solutions that save mid-market and large employers 20% to 40% on annual healthcare costs.
Overview
LevelFunded Health is a national, technology-enabled, direct-to-employer benefits distribution platform focused exclusively on level-funded and self-insured health benefit programs for mid-market and large employer groups. The company operates as a licensed health insurance agency in 28+ US states, compensated through transparent consulting fees rather than carrier premium commissions.
Employers with 50 to 5,000 enrolled employees typically achieve 20% to 40% annual cost reductions while maintaining or improving employee benefits. For large enterprises the company targets savings of USD 10 million to USD 100 million per year. LevelFunded Health reports serving over 100,000 members across the United States and is licensed as an insurance agency in more than 28 states, including major markets such as CA, FL, IL, NY, TX, and PA.
The firm was co-founded in 2014 by CEO Russell Carpel and Chief Corporate Development Officer Rich Corbin. A Series B venture round in November 2015, led by Hiscox with participation from Insure.VC and CCCC Growth Fund, validated the model. Ben Walter, then CEO of Hiscox US, joined the board at that time.
Products & Services
Level-Funded Health Plans
Self-insured benefit programs combining stop-loss coverage from A-rated carriers with predictable monthly costs. Employers receive downside protection against catastrophic claims and the potential to recapture year-end claims surplus as cash.
Key Features
- Stop-loss insurance from A-rated carriers for per-claim and aggregate protection
- Predictable monthly contributions (similar structure to fully insured plans)
- Year-end surplus returns when claims fall below funded levels
- Access to top PPO provider networks
Target Users: Mid-market and large employers (50 to 5,000+ enrolled employees)
Benefits Consulting
Advisory and brokerage services compensated through flat consulting fees rather than commissions on carrier premiums, eliminating the conflicts of interest inherent in traditional broker arrangements.
Key Features
- Conflict-free advisory model with no premium-based commissions
- Transition planning from fully insured to self-funded structures
- Plan design optimization
- Renewal analysis and carrier market review
Target Users: HR and finance executives at mid-market and large enterprises
Monthly Data Reporting
Ongoing utilization analytics delivered to plan sponsors on a monthly basis, enabling active management of healthcare spend between renewals.
Key Features
- Comprehensive utilization and cost data reporting
- Identification of cost-driving factors
- Benchmarking against national trends
- Data-driven plan design recommendations
Target Users: CFOs, HR directors, and benefits administrators
At a Glance
- Founded
- 2014
- Headquarters
- Naples, Florida, USA
- Employees
- 11-50
- Funding
- Series B
Category & Focus
- Category
- Distribution & Sales
- Subcategories
- Employee Benefits Distribution Self-Funded Health Plans Benefits Consulting
- Insurance Verticals
- Health Group Benefits
- Target Customers
- Employers
Customers
- Large auto retail group (2,500 FTEs): USD 20M+ cumulative savings over 4 years; 33% reduction in year one; 0% annual cost inflation despite national average exceeding 5%
- Top-5 publicly traded cannabis company (3,000 employees): USD 7M saved in year one (40% reduction)
- IT services management firm: USD 6M+ saved over 5 years; over 50% reduction in year one
- Multi-state waste management company: USD 3.5M+ saved over 4 years; 55% reduction in year one
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Last updated: 2026-06-03