"A group captive allows a group of unrelated employers to form a collective insurance company to manage some portions of their risks.... Captive funding is attractive to these group because it offers transparency.... Level-funded plans are sometimes described as a hybrid between a fully insured health plan and a fully self-funded health plan ... [and] are usually marketed to employers with 2 to 50 employees.... The challenge with level funding ... [is] that level-funded plans are at bottom self-funded plans."  MORE >>