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We build creative benefit packages that fit your needs now and in the future.

Q

We have less than 500 employees. Should we even consider a self-insured medical plan?

A

Today, it is possible for employers with as few as 25 employees to implement a self-insured plan with certain vendors and carriers. With a strong provider network and claims management, claim costs may be reduced. Additionally, self-insured plans are exempt from state mandates, premium taxes and the ACA insurance industry fee. However, a self-insured plan also has the potential to increase your costs as claims fluctuate, even with stop-loss protections. There are many different types of self-insurance contracts, so it is important to work with an experienced benefit advisor.

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