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Strong Economy Adds to Self-Funding Appeal

10/04/18

  05:40:00 pm, by MedBen5   , 229 words,  
Categories: Wellness, Stop-loss, Reporting, Cost savings, Self-funding

Strong Economy Adds to Self-Funding Appeal

growth progress chart

A strong economy and low unemployment contributed to an increase in employers offering health coverage in 2017, finds a new study by the Employee Benefit Research Institute. The increase halted a decade-long trend in which some companies dropped their coverage during the recession or in response to availability through insurance exchanges.

But even as coverage has risen, smaller employers continue to cite health benefits expenses as a concern and priority. Fortunately, more of these businesses are looking at self-funding as a potential means to stem the tide of rising coverage costs.

Employers with as few as 25 employees can realize savings by self-funding their health care plan... and there are numerous reasons why. Self-funding provides freedom from many costly state and federal regulations. And stop-loss carriers offer added financial protections to make self-funding even more appealing.

Best of all, with MedBen’s self-funding solutions, you’ll save more of the money you’re earning in this strong economy. We offer advanced claims surveillance and interactive reporting that allows clients to see spending trends. If you already self-fund, you can add worksite wellness and other services to your plan, which can help to reduce your coverage costs even further.

Whether you're already self-funding or considering the switch, MedBen can help your group get the most out of your health care coverage. Learn more by contacting Vice President of Sales & Marketing Brian Fargus at bfargus@medben.com.

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