Search

« Fraker to Serve as SPBA Secretary/Treasurer“Cash in Lieu of Benefits” Considerations »

Flexibility Adds to Self-funding Appeal

12/03/17

  11:18:00 pm, by MedBen5   , 232 words,  
Categories: Cost savings, Third party administration, Self-funding

Flexibility Adds to Self-funding Appeal

MedBen building

With all the uncertainly in the fully-insured market nowadays, it's little wonder that the popularity of self-funding continues to grow. Today, nearly 70% of U.S. employees are covered under employer-funded plans, as more businesses are seeing for themselves the flexibility (and savings) these plans offer.

In its State of the TPA Industry & Forecast for 2018, the Society of Professional Benefit Administrators (an organization on which MedBen Vice President of Compliance Caroline Fraker serves as a board member) projects that "employers will continue to move to self-funding for the ability to design and fully customize health plans that fit their specific work populations."

It is that flexibility, coupled with greater regulatory freedom, that makes self-funding an appealing alternative to groups looking for ways to control health care costs. And when you consider that employers pay only for their actual plan expenses, the choice becomes even more obvious.

In short, self-funding provides multiple avenues for saving employers money... and MedBen is an expert in working with groups to create health plans that take full advantage of these benefits. We help fully-insured groups make a smooth transition to self-funding, and help self-funded groups find additional saving opportunities.

With nearly 80 years of experience in benefits management, MedBen knows the important distinctions that make every group unique. Learn more about our self-funded solutions by visiting MedBen.com or contacting Vice President of Sales & Marketing Brian Fargus at bfargus@medben.com.

No feedback yet