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Choosing Group Health insurance Options – interactive infographic

airplane at airport

Should you consider self-funding your health plan?

  • Consider these organization’s stories and the solution to their health care challenges.
  • Consider the benefits and drawbacks of traditional health insurance, partially-insured, and self funded health insurance below.

TRADITIONAL GROUP HEALTH INSURANCE

Benefits:

  • Carrier assumes all risk
  • Focus on mission, not admin / staff healthcare
  • Can be older / unhealthy / new group to be insured
  • Can be small or large
  • International specialists advising/working for you

Drawbacks:

  • Rising annual renewal premiums of 12% +
  • Cost of health insurance
  • Needing to do better with donor dollars (good stewardship)
  • No control/No interest
Read More >>

PARTIALLY SELF- INSURED PLANS

Benefits:

  • Best of both worlds – Fully insured and fully self-funded
  • Carrier assumes all risk
  • Focus on mission not admin.
  • Control your own reserves/Grow your reserves
  • If you work with us – 0% – 3% increases year over year
  • For those wanting to transition into fully self-funded
  • Have international specialists advising/working for you

Drawbacks:

  • Not every group is a fit
  • Need reserves to start
  • Require good plan design
Read More >>

SELF FUNDED HEALTH INSURANCE

Benefits:

  • You control reserves, costs, payouts, benefits
  • You design your own plan
  • No renewal increases
  • Save money on taxes
  • Earn interest

Drawbacks:

  • Can’t easily get out once in, then hit with claims
  • You assume full risk
  • For larger group – Too few = bad risk
  • Takes lots of time/admin
  • You must become an international RX expert
Read More >>

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