n the method of providing employee benefits in which the sponsor does not purchase conventional insurance but rather elects to pay for the claims directly, generally through the services of a third-party administrator. Self-funded programs often have stop-loss insurance in place to cover abnormal risks.
References in periodicals archive ?
Roundstone's medical expense stop loss programme, Mid-Market Med, offers middle-market companies (20-1,000 employees) control over their health insurance costs through self-funding methods historically used by larger companies.
Equity Crowdfunding platform Eureeca has announced that it has successfully reached its funding target during its second self-funding campaign, having raised over $400,000 in just six hours of being online.
Fortunately, a method for self-funding health coverage has recently surged in popularity among small business owners--and for the right firm, the self-funding option can help employers mitigate the risk of rising health insurance premiums while continuing to assist employees with health coverage.
Large companies seem to have more options, such as self-funding their own plan and choosing what they cover and what they don't.
A network of third party administrators (TPAs) across the United States has created and launched a new website to educate the public about the growth in self-funding and the successes employers are having with these health plans.
Harvey joins GBS with well over thirty years of expertise in employee benefits and has been engaged in all aspects of health and welfare plans, with an emphasis on self-funding.
Self-funding generates enthusiasm on part of the entrepreneur who feels committed to the project and is always ready to take genuine business risk.
Self-funding has become increasingly popular among employers.
NORTH SHIELDS School Of Boxing is a self-funding amateur boxing club with more than 40 members supported by three volunteer coaches.
As a result, there has been a surge in interest in self-funding of employee health plans.
Eighty-two percent of respondents said they have experienced a growing level of interest among employers in self-funding their group health insurance plans over the past 12 months, with nearly one-third (32 percent) stating that interest has increased "significantly.