As the costs associated with providing health coverage to employees continue to rise, many employers are considering a change from fully insured plans to self-funded plans and other strategies that might reduce costs. With a fully insured plan the insurer carries the risk that costs will exceed premiums, but with a self-funded plan the employer carries that risk, sometimes with stop-loss insurance as a backup. Self-funded plans may offer savings, but they also carry increased financial risk for employer-sponsors. To avoid that risk, some employers are keeping fully insured plans but are opting for high-deductible health plans (HDHPs), sometimes with health savings accounts (HSAs), health flexible savings arrangements (health FSAs), or health reimbursement arrangements (HRAs). Self-funded plans do not require the employer to set aside a source of funding, but they do require careful design and actuarial advice. Similarly, HDHPs (whether insured or self-funded) require careful attention to design, especially if the employer also intends to add health FSAs, HSAs, or HRAs to the coverage mix.
Join Christine Williams, founder of Health Plan Plain Talk, to learn more about the advantages and risks of self-funded health plans, other cost-saving strategies, and potential regulatory changes that may affect options for employer-sponsored health plans.
This webinar will examine:
- The differences between fully insured and self-funded health plans
- How stop-loss insurance works and whether it will remain widely available
- The effect of state-mandated benefits on HDHPs and self-funded plans
- How health FSAs, HSAs, and HRAs must be designed in order to work with HDHPs
- Design considerations for self-funded health plans
- The minimum and maximum deductibles for HDHPs
- Employers’ rules for HSAs
- Permissible limits on coverage for spouses
- Potential regulatory changes
- And much more!
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