To deal with rising healthcare costs, it’s critical that employers analyze whether their current employee benefits program is providing the greatest value to meet the needs of their organization. Some have found that full, pre-packaged health insurance plans are not delivering the results that they expect; as a result, a growing number of companies have moved to a self-funded plan option.
At CBG Benefits, we help organizations not only understand how self-funded plans work, but we also help them make an honest assessment of whether the self-funded route makes sense for their company.
For companies that manage risk well, there are numerous advantages to self-funding. That list includes:
- Reduced insurance overhead costs
- Reduced state premium taxes
- Avoidance of state-mandated benefits
- Choosing benefits services à la carte
- Flexibility in plan designs, administration and offered services
- Customizable stop-loss insurance to reduce the risk associated with high claims
- Improved cash flow
Is Self-Funding Right For You?
One of the greatest assets offered by self-funding is the complete freedom to structure benefits according to needs of your company.
However, depending on your company’s goals, employee demographics, and financial situation, self-funding may not necessarily be the right solution.
Contact CBG Benefits to learn how we can help you examine your plan designs and make recommendations for improvement.
You may reach us at 877-332-6387 or via email at Info@CBGBenefits.com.