- Self Funded Healthcare Plans
- Traditional Healthcare Plans
- Non Traditional Options/ Coop
SELF FUNDED HEALTHCARE PLANS
Did you know that as a small business or sole proprietor you could have access to your own personalized self-funded medical plan?
What is a self-funded medial plan?
Here is a quick snap shot….
With a self- funded plan, the small business has greater flexibility to customize their healthcare plan. YOU can design the coverage you want rather than just picking from one or two prepared plans that the carrier offers.
Additionally, the self-funded plan will break down your monthly premium into 3 elements, or “buckets”:
- the cost for benefits administration
- the cost for stop loss/ major medical coverage
3- the amount to be set aside to cover your anticipated annual medical claims up to a determined maximum.
At year end, if the amount projected for claims in your group were less than the amount set aside in your 3rd “bucket”, then you get those funds back!