Is a Self-Funded Plan Right for you?

With fully insured plans failing to adequately meet the financial needs or the coverage expectations of a growing number of employers and employees, an exploration of self-funding alternatives might be warranted.

Potential cost-savings benefits of a self-funded program

  • Elimination of state premium tax
  • Reduction in administration fees
  • Elimination of reserve funds (now held by the employer’s plan)

Additional Potential benefits of a self-funded program

  • Ability to select providers, procedures and processes suited to an organization’s regional needs.
  • Employees are more engaged in cost management efforts since they typically share in the cost of caoverage (employee contributions, especially when they bear dependent premiums).
  • Employee appreciation in the value of the plan is increased by more direct participation (dividend sharing, stabilizing premium potential) and a deeper understanding of their coverage.

Arrow’s internal team and strategic partners can help employers transition from a fully insured medical plan to a self-funded program.

Contact us for a consultation or give us a call.