Gain greater control of costs, benefits and risk management.

Just as the name says, a self-funded plan enables the employer to act as your own insurance company. So, the money you would typically pay to an insurance carrier is used to pay the healthcare claims of your employees to the providers they use for care. This is one of the fastest growing types of medical plans today because it reflects the actual healthcare utilization of your employees. With a self-funded plan, you’re able to:

• Offer multiple plans to accommodate the unique needs of employees based on the type of coverage they may need 
• Establish relationships with provider networks to provide routine and specialty care at preferred rates
• Implement risk management tools and wellness measures that control costs through analytics and prevention
• Escape paying premium taxes on 100 percent of fully insured plans
• Select each program component that best fits the company culture (third-party administrator, pharmacy benefit manager, utilization manager)

To balance your risk, Diversified Benefits Group can help you to select stop-loss or excess-loss insurance to cover a catastrophic claim by a covered employee or claims that exceed the expected amount for any group of employees or coverage period. In addition, we’re able to help you contract with a third-party administrator (TPA) to administer your plan or a large carrier that offers self-funded models – at a cost that’s less than you might otherwise pay as part of your premium in a fully insured plan. 

There are advantages to all the options available to your and Diversified Benefits Group is uniquely qualified to show you the way. We’re able to assist you with fully insured medical plans and captive options as well. Just ask your Diversified Benefits Group associate.