In The Industry

In the Industry – Article Archive

The Scoop on Self-Funding

With so many U.S. employers making the move to self-funding, it’s become a popular topic for people to explore. We collect some of the headlines here on the Self-Funding Success website as a source of more information from a variety of places and perspectives. Check out these articles to get a look at how self-funding works and the impact its having.

Innovator’s Wellness App Aims to Improve Employee Nutrition

Apr 26, 2017|0 Comments

SFS Tech Tactics: occasional articles focused on technology’s expanding role in cost-savings and improved health in customized self-funded health plans – Jason Langheier, a physician, knew that poor diet was a major problem in the U.S. But he also knew employers could be — and should be — be part of the solution…. That’s why he created Zipongo in 2011…. the app … [is] currently in use at more than 150 companies, including Google and IBM…. and offers food benefits management services as a new employee benefit, similar to pharmacy benefit management. READ MORE

House Passes Bill to Limit State Regulators’ Powers over Self-Insurance

Apr 14, 2017|0 Comments

U.S. Congress has voted for a bill that provides protection for small and medium sized firms that choose to self-insure. The Lower House passed the Self-Insurance Protection Act … which sets legal limits to regulators’ jurisdiction over self-insurance health plans by setting unequivocal parameters to define medical stop loss policies and how they are different from traditional health insurance. READ MORE

FAQ Resource Published to Answer Common Questions about Self-Funding

Mar 29, 2017|0 Comments

SFS News Release: FAQ Resource Published to Answer Common Questions about Self-Funding – Adding to its collection of educational resources for consumers, the Self-Funding Success website recently developed an FAQ reference. This piece addresses questions on the basics of self-funded health plans, as well as many others related to costs, planning and implementation. READ FULL RELEASE

A Change for Small Biz Could Cost Some Employers their Custom Health Plans

Mar 21, 2017|0 Comments

Faced with rising premiums in the group health insurance market, the Park Slope Food Coop opted five years ago to create a custom plan for its 74 full-time employees and their family members and pay for the costs directly. “I’m convinced we would have had to raise prices if we weren’t self-insured,” said Joseph Holtz, general manager, who estimates self-insurance saves the co-op $300,000 to $500,000 a year. The co-op is one of several hundred New York employers that will be forced to stop self-insuring next year, thanks to a change in the state’s definition of a small business. READ MORE

MediBid Enhances its Free Market Medical Pricing for Self-Funded Employers

Mar 14, 2017|0 Comments

MediBid, the first online tool empowering patients to seek bids for low priced, high quality medical care, now shares the prices of winning bids to every doctor, hospital, and facility that makes a bid…. “Although there are many vendors in the transparency space, most of them report on PPO allowables, or Medicare rates…. We are the first entity to report on direct pricing.” ….[and] allow providers to compete for patients…. READ MORE

New Resources Developed to Educate Consumers About Self-Funded Health Plans

Feb 24, 2017|0 Comments

SFS News Release: New Resources Developed to Educate Consumers About Self-Funded Health Plans — The Self-Funding Success website recently added several new resources to its Self-Funding 101 section in its ongoing effort to educate consumers. These pieces focus on a variety of elements that contribute to the positive results many employers are experiencing with self-funded health plans – workplace wellness, prescription cost management and price transparency.  READ FULL RELEASE

GPA Saves Clients A Record-Breaking $1 Billion

Feb 22, 2017|0 Comments

Dallas, TX — By consistently providing high quality, cost-effective services to its clients, Group Pension Administration Inc. (GPA) has achieved a record-breaking $1 billion in client savings…. audits on bills from hospitals, emergency rooms, and dialysis centers culminated in GPA reaching its impressive milestone…. READ MORE

Guardian Study Reveals Majority of Employers Overwhelmed With Increased Complexity of Managing Benefits

Jan 31, 2017|0 Comments

Here’s a recent study that indirectly affirms the need for high-quality, full-service TPAs for employers to best manage their employee benefits, maximize cost savings and ensure compliance…  The Guardian Life Insurance Company of America recently released Benefits Balancing Act, the third set of findings from the Fourth Annual Guardian Workplace Benefits StudySM. The research highlights the increasing challenges employers face in managing benefits costs, improving administrative efficiency, and maintaining plan compliance, all while trying to improve workforce health and productivity…. READ MORE

Are Medical Captives the Answer to Data Transparency?

Jan 19, 2017|0 Comments

Medical captive insurance is helping level the playing field for mid-market employers who, along with their brokers and advisers, pledge a more aggressive stance on cost containment….uses a pooling approach to self-fund employers with as few as 25 employees – a strategy that as many as 98% of larger employers have used for years. The cost savings of its stop-loss group captive is 20% on average, which he says is a double-digit advantage over traditional fixed cost health insurance. Under the medical captive model, which helps mitigate self-funding’s volatility challenge…READ MORE

Why Self-Funded Healthcare is a Great Option for 2017

Jan 12, 2017|0 Comments

Small- and mid-sized companies using traditional major medical plans are at a competitive disadvantage: either they are paying more in loaded costs than competitors that use smarter healthcare options, or they are finding it more difficult to hire employees because their competitors offer better plans….With the new year and a new healthcare landscape, HR executives and benefits directors are now reconsidering their options… To balance the scales and create a competitive advantage, more companies are turning to healthcare plans based on a self-funding model…READ MORE

Lack of Price Transparency Leading Employers to Self-Insure

Dec 23, 2016|0 Comments

One employer chose to invest in self-insuring his own company due to a general lack of price transparency seen with payers’ health plans…. the notion of a company self-insuring its employees and dealing with medical claims on its own terms is slowly becoming a more popular option…READ MORE

Effective TPAs Contribute to Self-Funding Success

Nov 28, 2016|0 Comments

One of the most important success factors in self-funding is the service provided by the third party administrator (TPA)…READ MORE

Self-Insurance is Surging: More Transparency, Lower Costs – and More Risk

Oct 19, 2016|0 Comments

Self-insurance for medical benefits is sometimes seen as a step into the unknown. After all, companies are taking on more risk, and the potential for catastrophic medical costs can intimidate some business owners. But many experts say that the potential cost savings outweigh the risk… READ MORE

Companies Move Toward Self-Insurance as Healthcare Rates Increase

Aug 29, 2016|0 Comments

The rising cost of healthcare – and the pressures associated with pushing more of the cost onto employees – is causing a shift to self-insurance among employers… READ MORE

TPA Contains Average Medical Plan Cost Increase to Just 2.05% for its Employer-Clients

Jul 15, 2016|0 Comments

A third party administrator (TPA) with multiple locations in the U.S., Cypress Benefit Administrators has released its annual cost data trends report comparing the average cost increase of its health plans to others throughout the nation… READ MORE

How Organizations Can Benefit from Self-Funding Employee Health Plans

Jul 7, 2016|0 Comments

How to fund health benefits is a major decision for any organization. There are two options — get fully insured through a health insurance carrier or fund it themselves. Until recently, self-funding was only considered for large organizations due to the potential risk involved, but that’s changing… READ MORE

8 Ways to Make the Most of a Self-Funded Health Plan

Jun 30, 2016|0 Comments

For companies that self-fund, unbundling your health plan benefits offers some distinct advantages including competitive rates, more flexibility, and greater transparency… READ MORE

Self-Funded Health Plans Can Save Money, Up Risks

May 31, 2016|0 Comments

Business consulting company Spooner Inc. found itself facing the same challenge its clients and many other employers across the country are grappling with: rapidly rising health plan costs… READ MORE

The ABCs of Self-Funding Your Health Plan

May 27, 2016|0 Comments

More employers are moving to self-funding. Here’s what you need to know to make the switch… READ MORE

2 Ways to Maximize Value in a Self-Funded Medical Plan

Apr 30, 2016|0 Comments

Much has been written about self-funding strategies for employers. Typically, these articles focus on fundamental elements such as understanding and selecting the best contract type, using tiered provider networks, developing and monitoring a well-thought-out and perpetual wellness strategy, as well as the unique flexibility in plan design that is inherent in this approach. That’s smart, and it’s exactly where you should start. However, it’s possible – and prudent – to go much deeper… READ MORE

Selfie Health Insurance is All the Rage

Mar 30, 2016|0 Comments

It is not often that the words elegance and health plan end up in the same sentence, but Steve Gransbury says self-insurance can bring them together—and not just in a sentence… READ MORE

How to Proactively Manage Self-Funded Employer Health Plans

Jan 13, 2016|0 Comments

As more patients join self-funded plans, hospitals face new challenges regarding billing and collection… READ MORE