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 ?
It's not obvious to me that macro economic trends affect employer decisions to self-insure, but I do believe that disruptions in the health care marketplace caused in part by the ACA certainly have had an effect, " says Mike Ferguson, president and CEO of the Self-Insurance Institute of America.
Financial risk is the big factor in whether a company self-insures or not.
For this reason, it may be appropriate to select an elimination or waiting period of up to 100 days and self-insure for shorter periods.
Wilder holds more risk on general liability, he does self-insure property In fact, nearly 40 percent of the respondents either currently self-insure or are considering self-insurance for property exposures.
Nearly half of the respondents rank this factor as the most or second-most important reason behind the decision to self-insure.
Large plans were more likely to self-insure than small plans, so that self-insured or mixed-funded plans covered 72 percent of plan participants.
Among other results, the studies found that firms in relatively poor financial health were less likely to self-insure than better-performing companies.
Critics say that the healthiest small employers will be more likely to self-insure, and that the flight of the best risks to the self-insured market could lead to escalating claims costs and premium increases in the insured small group market.
MedRisk's EPO is now available to employers that self-insure workers' compensation programs, municipalities, insurance carriers, third-party administrators in a total of 36 states.
Pursuant to the Security Act, the Association's Members are all individual companies ("individual self-insurers") and groups of companies ("group self-insurers") that have been approved to self-insure their workers' compensation claims liabilities by the North Carolina Department of Insurance.
Gerber pointed out that a company that self-insures large risks and has a large deductible on its coverage is a de facto insurance company, and therefore should approach its loss management as an insurer would.