Category Archives: Self Funding
Five Steps to Keep Your Benefits Broker Straight: Edholm of Business Benefits Insurance Reveals Industry’s Best-Kept Secret
Read Jim’s latest article talking about the five steps to keep your benefits broker straight. Click here to go to the published article.
Bonuses Can Incent Your Benefits Broker to Keep You with the Same Carrier and Plan and Pay More Than You Should
I have been published again in the Business Insurance Feb 20th, 2012 issue. In this article I discuss how using a broker to get you a better deal can actually help save you money.
Business Benefits TV Episode 4 – Self Funding Health Insurance
In this episode Jim Edholm walks the listener through the single most under-utilized insurance funding mechanism — partial self funding. When an employer chooses to self-fund health insurance they can recognize the savings that the insurance companies do. It isn’t simple and it isn’t easy unless you have the right broker to guide you through [...]
Health Insurance and Self Funding
Let’s talk self funding of health insurance. I find that to be a very commonly searched term in those finding their way to this blog. And self-funding of health insurance is something more employers are considering today, given the rise in the costs of group health insurance. Why Consider Self Funding Your Group Health Insurance [...]
Maternal Depression: What’s an Employer To Do?
A recent report discusses Maternal depression. It’s a serious and common disorder that can compromise a woman’s health, reduce her quality of life and reduce her functional status and may negatively impact pregnancy outcomes. Maternal depression is a common but serious disorder. It is also quite treatable. But while there are readily available effective treatments [...]
Should/Can Employers Team Up?
They have, in Kansas City. Their goal is to add value-based benefits design for their benefits. A group of Kansas City, Missouri, employers has teamed up to pilot value-based benefits design. Value-based Benefits design is a plan design concept in which health coverage is tailored to better meet employee needs, ideally at a lower cost. [...]
Value Based Insurance Design
A recent report on Health Leaders Webex talked about an evolving health plan design concept that seems to offer some pretty unique advantages. In its simplest form it says: Dramatically reduce copays for certain preventive surgeries and chronic-condition-related medications to entice plan members to get the most cost effective treatment. Basically, what the prescription portion [...]
Specific Stop Loss Strategies
This continues from my post a couple of days back. It was kind of a review of the earlier post on self funding stop loss contracts, so now that we’re all up to snuff, let’s see if we can’t move forward and talk about how it works for a group of 35-50 or more. Just [...]
Stop Loss Contracts – Key to Self-Funding Effectiveness
We’ve been talking about self-funding in between being interrupted by Gov Deval Patrick’s misguided belief that he can suspend the laws of supply and demand. If you’re just stumbling across this, you may want to go back to the first post. You can find it here. There are really three categories of self-funding into which [...]
Stop Loss Insurance and Employer Self-Funded Health Plans
OK. Yesterday I stopped after describing the first two components of self funded health insurance plans — the Administrator and the claims. Next is your second-largest cost (generally speaking): Stop Loss insurance. Let’s face it, if Harry comes down with a $1 million illness (and that isn’t uncommon at all), you can’t afford it. Heck, [...]