self-insured


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self-insured

adjective Referring to the practice of carrying an individual health insurance policy for oneself; self-insurance is typically more expensive than group insurance.

self-insured

Self fund Health insurance adjective Referring to the practice of carrying an individual health insurance policy for oneself; self insurance is usually more expensive than group insurance

self-insured

Having personal financial responsibility for health care costs, as a result of dedicated savings or investments.
References in periodicals archive ?
Self-insured employers are required to maintain a deposit to collateralize their risk in an amount equal to estimated liabilities as determined by an actuary.
Moving to a self-insured model will allow you to explore carving out your pharmacy plan to a more transparent model or allow you to receive the data you need from your existing carrier to make better pharmacy-plan decisions.
For its part, plaintiff relied upon authority of the Appellate Division, Second Department, providing that an injured person's "claim for uninsured motorist benefits against a self-insured vehicle owner, while statutorily mandated, remains contractual rather than statutory in nature and, as such, is subject to the six-year statute of limitations" (Matter of ELRAC, Inc.
SAFE Work Manitoba congratulates the Manitoba government for demonstrating safety leadership in its support of an industry-based safety program for self-insured organizations and for taking an active role to help reduce the number of workplace injuries and illnesses in Manitoba, said Jamie Hall, CEO, SAFE Work Manitoba.
A nationwide retailer may opt to become a qualified self-insured and retain its GL risk to keep tighter control on expenses and more closely manage risks to its brand.
"Only self-insured plans are exempt from a patchwork of benefit mandates and regulations imposed under state insurance laws," supporters say in the notes accompanying the Rules Committee version
Yet this same application of the definition of "occurrence" could result in the undesired effect of several discrete construction defects within a single suit to require the satisfaction of several multiples of the policy deductible or self-insured retention.
And there have been innovations such as level-funding, a self-insured approach that works more like a fully-insured plan on the employer side, while still allowing for cost savings and plans tailored to the business' work force.
The SIIA also is "actively engaged" with various regulatory agencies as they develop final rules related to the "Cadillac" tax, or excise tax, and wellness programs to ensure the interests of self-insured employers are represented, Ferguson said.
Self-insured businesses purchase catastrophic policies in case any individual claim exceeds an acceptable amount.
[Columbia's] obligation to pay 'damages' and 'claim expenses' as a result of a 'claim' is in excess of the Self-Insured Retention.
However, insurance underwriters also insist that a device firm that assumes a sizable self-insured retention has the financial wherewithal to fund such a retention.