6 Self-Funding Strategies to Suit Your Needs

Self Funded Plan printed on keyboarded key

6 Self-Funding Strategies

Self-funding is nothing new as it has been a common form of health plan financing since 1974. Self-funding provides great flexibility with plan designs and provides freedom from most state laws. In fact, over 60% of US employees are covered under a self-insured medical plan. Under self-funded arrangements, the employer assumes all the risk of claims with backup protection from stop-loss coverage and retains the savings over fully insured. Employers partner with TPA and other vendors to provide claims administration, case management and network access. Employers with as many as 50 employees can consider self-funding, however we see employers with 100 or more participating in this funding arrangement.

Advantages and Benefits

Strategies Under Self-Funding

An employee benefits strategy is only good if it balances both the needs of your employees and your business.  If you want to learn more about these six advanced self-funded strategies, please contact Innovative Benefit Planning at info@ibpllc.com.

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