With a self-funded health plan, an employer puts aside funds to pay for anticipated health insurance claims for employees instead of paying a premium to a health insurance carrier. In this respect, the employer is the insurer and carries the risk associated with high insurance claims.
A licensed third-party administrator, like HealthPlus Options, provides access to hospitals and health care professionals, processes claims, issues ID cards, manages employee questions, prepares reports and offers cost-containment initiatives such as wellness programs and care management. HealthPlus also has stop-loss solutions that protect the employer from individual catastrophic claims or higher than expected total expenses.
Self-funding is an option to consider for employers exhibiting the following characteristics:
HealthPlus is the partner that seamlessly administers your health benefit plan. What's more, HealthPlus delivers a full-range of services to complement your unique approach to this employee benefit:
HealthPlus provides services all over Michigan. Find out if you’re in our service area.
HealthPlus has thousands of providers, hospitals and pharmacies. Find one that’s right for you.
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