With self-insured group health plans now providing coverage for a majority of U.S. employees and dependents (Kaiser Family Foundation survey, 2013), benefits brokers and consultants are becoming increasingly interested and involved in the self-insurance process.
Given the obvious role brokers/consultants play in guiding their clients in making health coverage decisions, it is critically important that they understand how self-insurance works and the implications for both plan sponsors and plan participants.
In this regard, brokers/consultants are encouraged to access the information available detailed below to help them deliver self-insurance solutions as appropriate to their employer clients.
Specific topics include:
- The basics of self-insured group health plans.
- Specific advantages of self-insured group health plans.
- Specific disadvantages of self-insured group health plans.
- Decision-process to determine whether self-insurance is a good fit for your client.
- Ways that providing self-insurance opportunities can strengthen client relationships for the long term – for the broker, it can mean the difference between being an order-taker or being a valued adviser and partner.
- Working with key self-insured group health plan services providers (TPAs, stop-loss carriers, PBMs, etc.).
- A “self-insurance made easy” model plan that can be adapted to many client organizations.
- Broker/consultant compensation arrangements associated with self-insured group health plans.
- Glossary of self-insurance terms.
- Partnering with self-insurance industry services.
SIEF hopes this information about self-insured employee healthcare plans is useful to visitors. Any further questions or concerns are welcomed.