It’s the difference between paying rent and investing in a mortgage.
Many employers are understandably confused about the difference between having a fully insured health plan and a self-funded one. This Industry Insight compares the two models of financing one’s health plan, explaining how self-funding is superior to being fully insured in all cases with the right guidance. In fact, becoming self-funded is the first step toward genuine and continual improvement in the quality and cost of any company’s health plan. In this Industry Insight, you’ll learn about:
- Your health plan’s components
- What fixed and variable costs are
- Why your “Max Liability” is important
- How you can get insight into claims data
- How to project your future costs
- Two client case studies where self-funding triumphed