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, where – and how – [...]
Success in Self-Funding
What’s Actually Working for Employers in Controlling Health Plan Costs
Today’s health benefits landscape is more challenging for employers to navigate than ever before. Yet, there’s a reason why nearly 70% of employees who have health coverage in the U.S. are now enrolled in some sort of self-funded plan and why that number is growing – they work. It’s that simple. Companies of all sizes and types, including public entities, are finding this to be true as they make the switch from the more limited fully-insured plans to the added flexibility and customizable health benefit options self-funding offers. The goal of this website? To showcase success stories from the employer-entrepreneurs who are experiencing the savings because of their self-funding efforts and from the SPBA-member third party administrators (TPAs) who are the facilitators in making these success stories happen.
NEW to the concept of self-funding?
Here’s a quick introduction:
Recently Submitted Articles:
The most recently posted real success stories about self-funded plans and how they’re working, as shared by the third party administrators (TPAs) who manage them.
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 structure. A TPA with 25-plus [...]
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 monitoring led one client to [...]
Read more of our articles: Self-Funding in Action …
In The Industry:
A sampling of employee health benefits industry articles, with an emphasis on self-funding-related topics and perspectives.
Pinterest: Traditional insurance ‘was letting us down’
Pinterest has joined a growing rank of employers who are fed up with the healthcare system and doing away with traditional insurance models as a result. The social media platform switched from their traditional healthcare plan to a self-funded model…. Pinterest isn’t the only employer to seek out alternatives to the traditional healthcare system. Last year, Amazon…. READ MORE
SPBA Part of Collaborative Effort to Encourage Congress to Address Surprise Billing in Health Care
Following a recent hearing that covered the issue of surprise billing in health care, the Society of Professional Benefit Administrators (SPBA) was part of a collaborative effort in which 30-plus organizations urged the United States Congress to pass additional legislation as a protection to patients…. “As an advocate for our third party administrator members and their plan participants, SPBA understands the real-world burden and effects of surprise billing”…. READ MORE