Medical insurance "self funding" is not just for big companies anymore.
- If you have just 5 covered employees, a form of self-funding called level funding may offer your company a way to avoid the administrative costs and premium restrictions and taxes of fully insured group health plans.
We can develop a level funded medical insurance solution that saves you money by paying yourself, rather than the insurer.
The advantages to self funding are simple:
- Cost control
- Cash flow improvement
- Plan design flexibility
With this type of funding, an employer pays actual claims, along with costs to administer benefits, coupled with stop loss coverage for unexpected claims. Self funding your group health insurance allows a company to pay claims as they are incurred. Level funding caps your expenses so you don't have catastrophic claims.
- When your claims are lower than forecast, savings will belong to you and your company, not an insurer.
To learn more about how self or level funding group health insurance might work for you, give us a call at (303) 422-1660.
