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The More You Know, The Less You Owe


Time to Hit the Books!

Welcome to Self-Funded Health Insurance 101

The dramatic rise in health insurance costs over the past few years have caused many public sector organizations to find innovative ways to continue offering quality health benefits to their employees. That’s why we have a self-funded insurance plan in place – because it helps us reduce overall costs while providing quality benefits.

What’s a self-funded health plan?
A self-funded health plan, as its name implies, means you pays for our own covered health care claims up to a certain limit. We are properly insured for claims over that limit. Here are a few helpful resources that’ll help you understand how self-funded plans work:

  • Increased overall savings potential
    • Funding our own health plan allows us to simply pay claims that happen instead of paying for claims that could.
    • It also gives us the opportunity to bypass the high-cost elements of traditional insurance plans – like administrative fees, premium taxes, and the extra costs normally charged by insurance companies to increase their profit margins.
  • We get more flexibility in plan design
    • Our self-funded plan allows us to customize our plan to offer the features you want and need, while discontinuing features that are not used very often.
  • More control over your health care costs
    • With fully insured health plans, there isn’t much anyone can do about the increasing costs of the plan. The premiums (cost of insurance) is just going to continue to go up every year.
    • Self-funding gives all of us the chance to control the future premiums. How? First, by staying healthy. By living an active and healthy lifestyle, we can prevent many of the chronic diseases that normally drive up overall premiums – keeping our costs low and our members healthy.
    • Also, with self-funded plans, we can provide you with unique, cost-saving tools that can reduce your own personal healthcare expenses, while contributing to the overall plan’s savings.
    • And finally, by being savvy consumers of healthcare, we can keep costs down and still get the quality healthcare we deserve.

In the end, we all want the same thing – access to high-quality healthcare at a reasonable cost. And we know that we can accomplish this goal by working together. For more information on self-funding, check out the video: How a Self-Funded Medical Plan Works.

Keep an eye on your inbox! You’ll receive another email containing helpful healthcare savings information once per month.