Self Funded Plans

What is a Self-Funded Plan?

Self Insurance

In a Self-Funded Health Care Plan, the employer provides health or disability benefits to employees using the company’s own funds

In a Self-Funded Health Care Plan, the employer provides health or disability benefits to employees using the company’s own funds

Self-Insured employers pay for claims out-of-pocket as they are presented instead of paying a pre-determined premium to an insurance carrier for a Fully Insured plan

Who is it Best For?

Some employers chose self-insured because it makes them more aware of their risks. Businesses can analyze their risks and how much money to save based on past and future analyses of risk in both the short and long term.

Benefits of Self Funded Health

Customization

Small businesses benefit from lower costs insurance costs, no “one-size-fits-all” requirement, and a high level of uniqueness in your health coverage offerings.

Provider and network liberty

Self Funded plans enjoy more freedom to contract with providers and network to best meet the heath care needs of your employees.

Not Subject to Premium Taxes

Self Funded plans don’t require the employer to be subject to state health care insurance premium taxes which are usually 2-3% of the premiums dollar value.

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