Putting Your Benefits to Work for You
Self-funding provides a flexible and affordable way to provide quality health care benefits to your employees, allowing you to track just how much your spending in claims each month, and giving to complete access to the information you need whenever you need it.
Increased Financial Control
Rather than paying a fixed annual premium regardless of the number of claims filed, you pay claims as they are incurred. This means you can invest your money into your employees rather than your insurance company.
Traditional insurance plans collect your premiums and pool them in a reserve where the money can be used to pay for employee claims. This means, you could be pooling money that may never be used. Self-funding protects you from paying a fixed monthly premium and keeps the cash flow under your roof, not going to your insurance company.
With self-funding, you can design your health benefit plan to meet the unique needs of your employees. Also, Self-funded plans are exempt from state insurance laws that typically mandate certain benefits for insured plans.
Because you can see exactly how much you spend each month, you can make changes to your plan to better manage your costs while maximizing the efficiency of your benefits. Self-funded plan designs can include strategies to monitor utilization, steer care to discounted provider arrangements, and assure appropriateness of care, all of which encourage wellness and provide incentives for wise utilization of care.
24/7 Information Access & Management
We provide convenient, secure access to all the information needed to manage a self-funded plan effectively. Authorized individuals of a self-funded employer receive confidential monthly reports, and everyone covered under the plan has secure online access to timely benefit-related information. Our website offers both our client employers and the covered members enrolled in their plans comprehensive access to their health plan information 24 hours a day, seven days a week. On our website you will find information on eligibility, claims payments, and much more.