Self Funded Health Insurance

Many large corporations have decided to take on some of their health care risks head on. These employers are using self funded health insurance programs that give them the flexibility to make important decisions on benefits, funding, and administration that will decrease their overall liability. While there are many larger groups in the marketplace with fully insured programs--it would be a very good alternative to see if your company would be a good fit for a self funded health plan. We at E-Insurance online have very unique solutions--that will decrease your overall cost by a minimum of 20%.

Self insured--sometimes referred to as self funded health insurance plans are defined by the employer taking partial financial risk for providing health care benefits to their employees. The employer has the power to then offer his or her employee's plans that mimic that of a traditional program or they can pay for all of the employees out of pocket expenses outright. They can set up whatever benefits they see fit for their company's vision. Rather than buy a policy from an insurance carrier direct--the employer takes on all the risk for each employee up to a desired level. They then buy reinsurance or stop loss insurance policy to pay for all expenses over and above that of the employers risk threshold.

The reinsurance policy is designed to limit the employer's loss for a specified amount. This ensures that the large or unanticipated claims do not upset the financial integrity of a self-funded health insurance plan. The amount of risk to be insured is a combination of the employer's size, nature of business, financial experience and tolerance for risk. A third party administrator or health and welfare company will administer the plan. Their responsibility includes maintaining eligibility, customer service, adjudication and paying claims, preparing claims reports, and arranging for managed care services such as network access and case management.

With the addition of J & K Consulting Inc., E-Insurance Online is now able to offer very unique solutions for groups looking to step into the self funded health insurance world. If your company has 100 or 60,000 employees, they're many ways to cut costs and increase your current benefits through self insured programs. If you are a corporation that has a benefit cost increase every year--we can show you a very easy solution to your current problem of rate hikes and start turning you around. We have many proven methodologies to control your claims and are understood as being a proprietary product. Would you like a free consultation with an insurance group that has actuaries and underwriters on staff? Whatever your current situation might be--let us see what can be implemented to further your cost savings and efficiency.

E-Insurance Online takes our advisory role seriously and strive to make sure our clients needs are being met and over exceeded. To speak with one of our friendly insurance consultants please give us a call at 800-554-9142. From there we can set up a conference call with the head of our self funded health insurance division--hat will be the first step in the right direction.