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Self-Funding Solutions

(Now Available to Groups of 100 Eligible Employees and Up)

Typically, and historically, "Self Insurance/Self Funding" has been limited to the larger groups.  When a consultant or broker brings this concept to the table, and you only have 100 plus eligible employees, naturally, it's a knee jerk reaction to say, "No thank you, we are all set".  Lets face it, change can be scary!

Good news is, we now have a program that is self funded and works for groups as low as 100 eligible employees in the state of New York!  Isn't that exciting?  

 

How does that work, you ask?  Think about this for a moment; When you are fully insured, if you pay monthly premiums to an insurer and they are more than the amount it takes to cover your monthly claims, what do you think happens to the excess funds?  You got it! The insurance company gets to keep them. 

Conversely, if they have to dip into their pockets to pay your claims, you can bet they will recoup the money next year by raising your premiums. After all, it's only fair, right? 

 

Then what? Your broker comes in with his hat in hand and suggests you shave off a few points on your increases by putting more of the responsibility on your employees.  How?  By raising deductibles and coinsurance, shrinking your provider network or possibly shifting some of the increases to them this year.  Why not, everyone is doing it, right? Heck, some companies aren't even contributing at all! 

With self insurance, if you've done your homework, you've found that there's no continuity or stability to what you pay each month for premiums.  The monthly claims are paid as they arrive and can be more than you were paying for premiums in the fully insured arena. Scary, huh?

So why would our program be any less scary, you ask? Check this out:

  • Level monthly premium pricing

  • Premium stability through lock in rates

  • Any excess premiums paid remain in your account

  • Open provider network, no one is "out of network"

  • Pharmacy benefit management that reduces your cost tremendously

  • Claims payment system that will lower your claims cost by 30% minimum

These are just a few of the safety nets we have put in place to make this a viable option for you.  

If you think it's time for a change. If you think you are ready to stop letting your benefits control you and take charge. Call 315 299-8833 and lets make some changes!