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.