We offer partially self insured, and self funded group health insurance plan options for…
International businesses, non-profit organizations, NGOs and B-corporations/social businesses in the USA and abroad. We are unique: In the last sixteen years, we have specialized in protecting and serving international groups overseas, or who have staff working overseas. Not many insurance brokers know the international market like we do. But we can also help organizations with partially self funded health insurance with as few as five W-2 employees and minimal risk.
Please refer us as well to those you know who employ staff overseas – We’d love to help them save money too!
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For as few as 5 to 20 or more
For smaller groups 5 to 20+, self funded health insurance used to be too great a risk. However, we are now able to help groups with even as few as 3 W-2 employees with very little risk.
- If you are a smaller group with only a few people overseas, or have local nationals on staff, true self funded health insurance still requires 20 or more. However, we have strong relationships with over ten international carriers and can create specific plan designs and benefits that keep costs down and mimic many of the benefits of self-funding. If you want to transition into a partially self-insured, or a self funded insurance plan, we can help set it up now to easily transition when the time is right.
And if a self funded group health insurance plan or switching doesn’t make sense, we’ll tell you honestly. We serve hundreds of smaller groups just like yours.
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For groups from 20 up to 500+
For medium to large organizations, we can help you get the best of both worlds with partially self-insured hybrid plans and level self funded health insurance plans that offer all the benefits of self-funded health insurance, but with less risk than a true self funded group health insurance plan. This is the fastest growing trend in self funded health insurance.
- We offer partially self funded group health insurance plans that build reserves, give you control over plan design and feature very low risk. Those who have worked with us have seen renewals from 0% annual increase to 3% on average! Two groups this year so far had a 0% increase. Considering the average annual increase is approximately 14%, we have one of the best track records in the industry. And we can show you how you can be our next success story. Call us or fill out our 10-second survey today.
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For organizations of 100 or more
For organizations of approximately 100 or more, you have the option of setting up your own self funded/fully self funded/level funded health insurance (including plan design, TPA, as well as trusted advice on stop loss / reinsurance limits, controlling costs, and risk assessment) OR creating a partially self-insured plan / level self-funded plan to limit your risks.
- We have helped many international organization design plans to fit their needs and save money while creating a very manageable system of administration.
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We have lots of resources available to you as you consider these options.
We can schedule a free phone consultation to help you anywhere in the process, or if you’re currently self-funded and looking for a way to go back to a managed, more traditional plan we can help you with that as well at (480) 813-9100.
What’s your story?
What other organizations are learning
Small Group of 32 People
“We’re a smaller group (32) and we saved $30,000 last year, and now have one year’s premium in the bank. In a fully-insured plan, 18% yearly increases were killing us.
Now, our people are happy and better protected.
A sad (but true) story
“When the premie baby was not going to be covered, I asked if they could pay the claim. They responded, ‘No, it would bankrupt us.’”
They are currently self-funded and this is their story:
An Established Group 400+
“They used to be self-funded, but far too many cash-flow headaches – plus trying to get reinsured every year caused them to want out.”
So we saved them $400,000 their first year, but to be honest…
Considering a self funded group health insurance plan for your group?
A self funded group health insurance plan is one way to reduce overall health insurance premiums and take control of rising costs associated with group health plans. But so far, the risk has been a determining factor for many groups seeking to save on their premiums.
Is “self-funding” for you? Download our infographic here.
A self funded group health insurance plan can also create a lot of work and be risky for your workers. If you choose to self-insure and then have a bad year, numerous very expensive claims, or someone on staff comes down with a chronic disease requiring years of costly treatment. At that point you may find it very difficult to get insured again (or very expensive), even too costly when renewing your reinsurance policy.
Not anymore.
Good Neighbor Insurance has been learning and planning these past years to help large and small international organizations address these exact issues, saving money and taking control while avoiding exposure and crippling costs which could put smaller organizations at risk.
Over the last number of years these groups (major Evangelical and Mainline missions groups, non-profit organizations, social good businesses…) have averaged under 3% premium increase year over year, with major U.S.-based insurance carriers, and helping groups set up their own reserves to save all that money for the future (Compare that to 12-14% standard trend increase in annual health insurance premiums)! – And we’ve documented their savings here.
Ready to Help You Self-Fund
Good Neighbor’s professional staff specialize in helping international non-profits, faith-based groups and charities-which not many people can claim. And now we can confidently say that we are ready to help you partially self-fund your group.
The lowest they’ve saved a group in the last decade is around $18,000 annually (group of 32) and the largest is $400,000+ annually (with 380 people on the plan) all while taking steps to ensure that their groups take very little risk and are sufficiently reinsured. Now those savings can go back to helping people which is our goal! At the same time, setting up a self funded group health insurance plan may be something you can do yourself. The secret is in knowing how to structure a plan design that, combined with the right amount of reinsurance and a couple other items specific to overseas and non-profit groups, can realize the contrary goals of both saving money AND keeping your people safe. Because if your workers’ health benefits are reduced, then they are not safer.
This is the biggest problem facing organizations trying to cut costs – Saving without cutting coverage and real protection.
We have a Special Report on this subject we printed and are making available free either by mail or via .pdf here.
Consider this when self-insuring:
Is it the right move for you?
Most companies’ health insurance is part of a much larger pool of 20,000 or more people to spread the risk/costs associated with coverage. When you self-insure, you only pay your own claims (and you keep the rest of the premium), BUT you also have to pay all your own claims. And your risks are spread among only 150-300 people (including your employees, spouses, their children,…) instead of 20,000.
Would you buy a health policy for your family knowing the cash reserves were only from a pool of 150-300 people?
- You can’t gamble with worker’s health
- You can’t self-insure hoping that you have good year after good year
- It’s essential to know reinsurance so you don’t get hammered after a bad year
Good Neighbor Insurance and our new consultants know ways to ensure you are protected. AND can help you continually build up reserves rather than having to continually deal with annual rate increases or cut benefits. In fact we can show you how to increase benefits without increasing costs.
Email group@gninsurance.com to find out if self funded health insurance or partially self funded insurance is right for your organization.
Free Resources
To help you save money on your group health insurance!
- How to Choose Good Group Health Insurance
- How to Run and Maintain a Sustainable Group Health Plan
- Advanced Tips and Techniques – How-to save on your group insurance
– Free Accompanying Workbook – Advanced Tips and Techniques Companion Guide! - Self-Funding Your Group Health Insurance
- Infographic: Group health options in .pdf format
- Whitepaper: “Do we need a broker?” .pdf
- Special Report on “Understanding ‘Trend’ and how it affects your renewal rates”
- Download our group brochure