self-insurance


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self-insurance

a system whereby hospitals or health professionals may, in lieu of commercial insurance, assume financial responsibility for their liability.

self-insurance,

n the setting aside of funds by an individual or organization to meet anticipated dental care expenses or dental care claims, and accumulation of a fund to absorb fluctuations in the amount of expenses and claims. The funds set aside or accumulated are used to provide dental benefits directly instead of purchasing coverage from an insurance carrier.
References in periodicals archive ?
The number of companies offering at least one self-insurance plan jumped to 39% in 2015 from 28.
Some consumer groups, regulators, insurers and others have suggested that very small employers may be making more use of self-insurance to avoid Affordable Care Act benefits requirements, consumer protection requirements and other requirements.
is preparing to re-introduce the Self-Insurance Protection Act bill in the 115th Congress.
The objective of our article is to examine the whole set of equilibria possibly arising in an insurance market where the intensity of self-insurance actions can be adjusted according to genetic information.
Self-insurance has been popular for some time with larger companies; more than 80 percent of companies with 500 or more employees have self-insured plans, according to the U.
Initially, the self-insurance plan for small employers will be offered only in Arkansas, but the company is working on rolling out the plan in seven or eight other states during the next six to 12 months, Stock said.
29) In applying the statute's plain meaning, the court found the DBR would have to first promulgate the requisite framework for allowing self-insurance before a medical provider or facility would be allowed to self-insure.
For workers' compensation self-insurance alone, the value of LOCs outstanding is probably in the order of $20 billion to $25 billion.
To legislators, the membership became the "Voice of Self-Insurance" in Tallahassee and gained majority representation on the Florida Department of Labor's Self-Insurance Rules Advisory Committee.
This issue has been brewing for a long time and in December of 2007 the WCB issued a report entitled "Individual Self-Insurance Alternative Funding Models" in which it analyzed several different options for providing a long term funding mechanism for defaulted self-insurance entities.
Self-insurance is often a better option for the sick, since it simplifies the process of finding the right kind of help so that you can get better.
With the aid of competent brokers, you might find that your cash flow could support a self-insurance program.