Partially Self Funded or Level Funded Plans

Reduced Costs And Other Advantages

A partially self-funded health insurance plan is a type of health insurance in which the employer assumes some of the financial risk for the cost of medical care. This means that the employer pays a portion of the claims costs, while the insurance company pays the rest.

The Advantages

• Reduced costs: Partially self-funded plans can be less expensive than fully insured plans. This is because the employer is sharing some of the financial risk with the insurance company.
• More flexibility: Partially self-funded plans offer more flexibility than fully insured plans. Employers can customize the plan to meet the needs of their employees and budget.
• Improved employee satisfaction: Employees who have a partially self-funded health insurance plan are more likely to be satisfied with their coverage. This is because they have more control over their plan and are able to choose the benefits that are most important to them.

Reasons to offer a Partially Self Funded Plan

• Reduced costs: A study by the Kaiser Family Foundation found that employers with partially self-funded plans paid an average of 12% less in premiums than employers with fully insured plans.
• More flexibility: Partially self-funded plans allow employers to customize the plan to meet the needs of their employees and budget. For example, employers can choose the level of coverage, the deductible, and the coinsurance.
• Improved employee satisfaction: A study by the National Business Group on Health found that employees who have a partially self-funded health insurance plan are more likely to be satisfied with their coverage. This is because they have more control over their plan and are able to choose the benefits that are most important to them.

H&H Insurance: Your Guide

Overall, a partially self-funded health insurance plan can be a good option for employers who are looking for a more affordable and flexible health insurance plan. H&H Insurance Solutions will help you every step of the way with our experienced team. We will walk you through your options, considering your unique business and employee needs and budget. We’ll compare plans from leading carriers to find the one that offers the best coverage at the most competitive rate.