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Companies move toward self-insurance as healthcare rates increase - Benefits News

curbing_costs_graph.pngAmanda Eisenberg from Benefits News takes a look at how increases in employee healthcare (5-10% for many employees) is causing a shift to more self-funding.

Read the full original article from Benefits News.

A new survey from Arthur J Gallagher and Co. found that “The trend of switching from fully insured to self-insured is expected to grow by 35% in the next two years, from 28% to 38%.” Eisenberg highlights the benefits of of self-funding in this article, focusing on how employers can use monthly data and analytics to help make real-time decisions about healthcare for employees. 

Typically, only large employers can afford the risk of self-funding healthcare benefits, but there is a similar (and less risky) option for small to midsize businesses - partial self-insurance. Learn more about this innovative healthcare model by downloading our Quick Guide to Partial Self-Insurnace:

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The information and materials herein are provided for general information purposes only and are not intended to constitute legal or other advice or opinions on any specific matters and are not intended to replace the advice of a qualified attorney, plan provider or other professional advisor. This information has been taken from sources believed to be reliable, but there is no guarantee as to its accuracy. In accordance with IRS Circular 230, this communication is not intended or written to be used, and cannot be used as or considered a ‘covered opinion’ or other written tax advice and should not be relied upon for any purpose other than its intended purp