GROUP INSURANCE - SELF-FUNDED INSURANCE PLANS

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OVERVIEW OF SELF-FUNDED INSURANCE PLANS

We know of one company that will provide self-funded insurance** for groups as small as 11 employees. Most insurance companies want to see at least 100 or 125 employees on a self-funded plan.

It is a misnomer to think that self-funded plans are always better or at least less expensive. That is not always the case. If the average age of your group is near 50 or even over 45, a self-funded plan is not a good idea. And some companies will not even consider providing self-funded quotes if the average age is near 50.

Of course, the advantage of a self-funded plan is that any surplus money from providing health insurance coverage “in-house” remains in the organization. If you are interested in looking at a self-funded plan, please contact us.

** See glossary for definition of self-funded insurance