If you’re a small or mid-sized business, you might be fearful of even the idea of signing yourself up for self-funded health insurance. It sounds risky: what if you get hit with unexpected large claims? What if your cashflow is somehow disrupted? By definition, self funded health plans imply that you, as an employer, takes on the risk. But becoming self funded isn’t actually as scary as it sounds.
As health care costs continue to rise, self funding is becoming a more and more attractive option for smaller companies. Allay can help you analyze your options which include: level funding, joining a captive, self-insuring against a deductible. You can also purchase stop-loss insurance as an added buffer. In all of these scenarios, you’ll be able to mitigate your risk. Regardless of which option you choose, you’ll be able to offer the same great coverage to your employees, while keeping your health care costs manageable.