Advantages of Self-Funding and Stop Loss Carve-Outs

17 July 2017 By Barry E. Fields

There are not many changes you can make to your medical program that will reduce costs without having an adverse impact on your employees. 

Did you know that 81% of companies with over 200 employees are self-insured (with stop loss), and 55% of firms with 200-999 employees are also self-insured?  Even 16% of companies with less than 200 employees have self-insured medical plans (Source: Kaiser 2014 Benefits Survey). 

 

If your medical program is currently fully insured, have you considered some type of self-funding? 

Also, did you know that if your program is self-insured with a major carrier like Blue Cross, United Healthcare, Aetna, Cigna and AmeriHealth, your stop loss coverage does not have to be provided by your medical carrier?  You can carve out the stop loss coverage with one of many stop loss carriers out there and potentially save a lot of $$$ without changing your medical carrier, any of your benefits, and causing any adverse impact on your employees. 

Please let me know if you are interested in learning more about self-funding and alternative stop loss carriers.

 

Barry E. Fields
Vice President, Employee Benefits
JGS Insurance
960 Holmdel Road, Bldg. 1
Holmdel, NJ 07733
Phone:  732-837-1068
Cell:  908-406-7000
Fax:  732-834-0233

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Last modified on Monday, 17 July 2017 20:48

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