self-funding

self-funding,

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 ?
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 has become increasingly popular among employers.
One of the many ways MedCost helps employers realize the financial benefits of self-funding is through wellness and care management programs that are customized to meet the unique needs of each employee population.
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.
The underpinning of self-funding and the stop-loss coverage that typically accompanies this switch is obviously a stable employer group.
Benefits experts and now a growing number of small and midsized employers see more opportunity to contain costs by self-funding, as do nearly all employers that sponsor health plans covering thousands of lives.
Kansas was our first eGovernment contract as well as the first state to recognize the extraordinary value of the self-funding approach, and we are proud of the results of our partnership during the last decade," said Jeff Fraser, Chief Executive Officer of NIC.
Under self-funding plans, such as the Great-West "Preferred Funding" program, a company's cost for providing health care is based on the company's claims experience -- not an industry average -- which can result in cost savings, Miller said.
It is intended that the project be self-funding, with mining and processing concurrent with exploration efforts to expand the resource there.
The six-page, publicly available document describes the current status of employment-based coverage and the self-funding of employment-based health care coverage.
Like many other REITs, EQR has adopted a self-funding strategy, which has significantly reduced the company's need for incremental external capital.