At Stop Loss Insurance Services, we are seeing more and more benefit professionals move their clients to a self-funded arrangement for a number of reasons.
First, employers that self-fund their plans have more control over the benefits they offer their employees by shaping their health plans to meet individual needs rather than purchasing an off-the-shelf product offered by an insurer.
Second, self-funding allows employers to avoid the profit margin that insurers build into fully funded health insurance, as well as the costs that insurers have added to premiums to account for increased regulatory requirements.
The opportunity to deliver a high-quality benefit at a controlled cost is well within reach through careful structuring of the self-funded plan. Still, self-funding still may sound like a lot to consider for some employers, especially in a climate of high-cost medical care. Some are concerned about the ability to afford having an employee incur high-cost services. Fortunately, there are strategies to help reduce the risk when taking on self-funding. As the nation’s leading stop-loss wholesaler, we ensure your transition to self-funding is seamless, successful and stress free.
We are the stop-loss experts – it’s all we do.