Self-Funding in Action
Self-Funding in Action – Full Article Archive
Examples of Self-Funded Plan Success
With self-funding as the most common plan type in the United States, how are employers benefiting? The examples are plenty. We’ve gathered some real success stories from the third party administrators (TPAs) who manage these plans and also included their varying perspectives on what’s working so well with self-funding.
The listing below includes all articles that have been submitted. Simply click the headlines below to read the full stories submitted by TPAs.
You can also browse by topic by clicking on any of the categories to the right (or below on mobile).
Please stop back or bookmark this page … we will be updating content on an ongoing basis as TPAs share their stories related to self-funding success.
4 Ways to Transform Plan Data into Healthier Employees & Reduced Health Care Spend
When it comes to health plan management, the stakes are high – and the risks are even higher. Data is a self-funded gold mine. But employers need to act on the data they have. With so much information to analyze, READ MORE>
Data Proves Key as Plan Cuts ER Costs by Nearly 50% Over Three Years
The combination of working with a TPA to better understand the health care usage habits of your employee population (through plan data analysis) and having the flexibility to make plan adjustments when needed is a big benefit of the self-funding READ MORE>
A Proactive Approach to Plan Data Lowers Number of ER Visits
Having access to plan data is a unique advantage in self-funding that gives employers the ability to identify cost-driving trends and make the necessary adjustments to address them. Nova Healthcare Administrators, Inc., shares an example of how this diligent data READ MORE>
Thorough Claim Review Leads to At-Home Treatment Solution that Saves Nearly $100K Per Year for Individual Member
One thing that’s often a real difference maker for self-funded clients is the emphasis that’s placed on health claim review. As third party administrator (TPA) MedBen noted in a recent blog post, the savings opportunities identified can be quite substantial READ MORE>
Forward-Thinking Employee Benefits Lead to More than $2 Million in Savings and Healthy Outcomes for Plan Members
When offering health benefits to employees, employers face the risk of experiencing high-cost claims if plan participants are diagnosed with a serious illness or disease. Self-funding allows the flexibility to plan for these situations … proactively. In this example, Tom READ MORE>
TPA Controls High Claimant Costs through Claims Management, Early Detection
A study shows that claimants who accumulate $50,000 or more in annual benefit costs represent nearly a third of total spending as it relates to employers’ health plans. What can be done to help contain these high costs? Third party READ MORE>
Flexibility, Savings & Engagement: 3 Reasons Employers Choose Self-Funding
As more companies consider the move to self-funding, Tom Doney and team at Cypress Benefit Administrators are regularly fielding questions about what kind of advantages these health plans can offer. This prompted the third party administrator (TPA) firm to put READ MORE>
Employers Weigh In: 10 Main Benefits of Self-Funding
As president and CEO of The Kempton Group since 1992, Jay Kempton works closely with self-funded (self-insured) employers on a regular basis and has been part of many insightful conversations with them about what makes their health plans so effective. READ MORE>
How Self-Funded Employers Are Saving Up to 30% with Reference-Based Pricing
Searching for a solution that would offset fast-rising healthcare costs and provide more savings than a traditional PPO discount, Custom Design Benefits introduced a reference-based pricing (RBP) program for its self-funded plans that is returning great results. When compared to READ MORE>
Price Transparency a Factor as Self-Funded Employers Realize $10 Million in Savings
Appearing as a guest on an episode of The MiddleGround, Jay Kempton discusses why his Midwest-based TPA firm became involved with the movement toward price transparency in self-funding and how it helped contribute to nearly $10 million in savings by READ MORE>
Streamlined Operations Make Acquisitions Easier & Reduce Benefit Costs by 22%
As a national communications company began to experience rapid growth and multi-state acquisitions, it needed to streamline its benefit process among all locations and ensure a seamless transition for new employees joining the plan. The solution? Make the switch to READ MORE>
Self-Funding Restores Employee Satisfaction & Cuts Costs
When providing benefits to small groups of employees scattered around the country, managing the accuracy of claims payments, network coverage limitations and unfilled service needs can take a serious toll on a company’s bottom line – and its reputation. IAA, READ MORE>
Realizing the Payoffs through Population Health Management (PHM)
When paired with the right third party administrator (TPA) and program partners, self-funded plans can achieve big savings with their ability to accentuate population health management (PHM) – while still following strict measures to protect participant privacy. Kevin Schlotman of READ MORE>
How Using Benefits Data Led to 16% Lower Health Coverage Costs
Unlike traditional health plans, self-funding offers employers access to benefits data (generic data that in no way identifies covered individuals or employees). Caroline Fraker of MedBen explains how her company has been able to help clients use this data to identify READ MORE>
The Customization Self-Funding Allows is Critical to Shaping the Future
The customization that comes with unbundled self-funded plans gives U.S. employers many unique, “difference maker” advantages. According to Andy Fujimoto of AmeriBen, these include the ability to recruit top-notch talent, reduce care costs, increase staff productivity and improve employee health. READ MORE>
Self-Funding: Actual Cost Savings vs. Perceived
Working in third party administration for nearly 25 years, Caroline Fraker of MedBen has seen some of the more dubious methods like “guaranteed discounts” associated with traditional health plans. She explains how self-funding offers actual savings versus perceived. As the READ MORE>
$6.4 Million in Savings Realized Through Careful Claim Review
In a self-funded health plan, employers cover claim costs as they’re incurred, so keeping those charges in check is a top priority. Tom Doney of Cypress Benefit Administrators shares how this careful claim review is paying off in the form READ MORE>
Passive Buyers Turned Proactive Plan Owners with Self-Funding
In the eyes of a CEO from a successful TPA firm, employers are shifting from the mindset of passive buyers of standard employee benefits to proactive plan owners who are ready to take control with the added choices self-funding presents. READ MORE>
TPA-Developed Program Leads to Better Health, Bigger Savings
Because employee involvement is such a big part of self-funded health plans, workers are being encouraged to make decisions that lead to better health. Here’s one example of how a smoking cessation program is paying off now and for the READ MORE>