Premium allocation In a fully insured plan, 100% of the premium dollar goes to the carrier, which pays the claims and manages the plan. In a self-insured plan, up to 87 cents of each dollar covers claims. The remainder covers reinsurance and administrative fees. There are two types of reinsurance…
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Employers with fewer than 100 eligible employees have often avoided self-funding their group health insurance programs because they’ve been afraid of the risk. However, with the rising costs of employee health benefits, many employers are turning to self-funding to get control of spending. There are four main components of any…
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Captive insurance One way to mitigate risk is by joining a captive. Captive insurance enables organizations to take control of their program, reduce costs and maintain a healthy, engaged workforce while spreading risk across a group of employers. Employers can maximize their benefits investment in good years by capturing profit…
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