In considering a move to self-funding, what are some strengths and areas of expertise a TPA should have?

Moving from a fully insured to self-funded plan is enough of an adjustment itself, so making sure you’re aligned with a TPA (third party administrator) you trust and feel comfortable with is a big deal. There are a lot of us out there, so how do you make that...

Nov 08, 2018

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What kind of health plan data do employers have access to with self-funding?

There are many distinct differences between fully insured and self-funded plans, and one of the biggest is access to data. In a fully insured plan, employers typically receive some basic summary data at year’s end right before renewal time. The problem? This data shows overall costs accumulated for the year,...

Sep 05, 2018

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2 min read

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Can you describe how fiduciary duty works in simpler terms?

The word “fiduciary” doesn’t exactly roll off the tongue, and its meaning can be a bit on the complicated side, too. A study published in CNBC’s Money this past fall revealed that, at best, only half of those surveyed could correctly identify the meaning of the term. And while that...

Aug 08, 2018

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2 min read

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How do self-funded health plans help simplify benefits administration for companies with multi-state operations?

There are so many companies out there (Cypress included!) that have headquarters in one state and additional offices spread across the country. Having operations in various zip codes like this can get tricky when it comes to offering employees a uniform health plan. With thousands of federal and state mandates...

Jun 22, 2018

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What are the main laws that regulate self-funded health plans?

This question comes up a lot as more and more employers explore the self-funding structure for their company-sponsored health benefits. The Department of Labor (DOL) and its Employee Retirement Income Security Act of 1974 (ERISA) serve as the main governing body for self-funded plans. A federal law, ERISA was created as...

Apr 18, 2018

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1 min read

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Why are so many states choosing to self-fund their employee health benefits?

While the switch to self-funding has increased for both public and private sector employers, state governments are one group that has really embraced this structure. How many states would you guess offer self-funded plans today? This number may be higher than you think! The National Conference of State Legislatures (NCSL) reports...

Mar 08, 2018

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1 min read

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How does today’s multi-generational workforce factor in to the employee health benefits that companies offer?

With a workforce that represents everyone from Baby Boomers to Post-Millennials, employers are tasked with offering employee benefits that fit the wants and needs of multiple generations. This is no simple feat when your staff consists of some employees who are nearing retirement, others who are just entering the job...

Feb 08, 2018

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2 min read

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With a self-funded plan, what are the main things to consider when choosing stop loss insurance?

Stop loss coverage serves as a fundamental layer of risk protection in self-funded plans, so I can’t stress enough how important it is to work with an experienced TPA to weigh your options. In today’s market, there are a lot of carriers out there vying for this business. Unfortunately, it’s...

Dec 06, 2017

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2 min read

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Do companies realize the substantial health plan savings promised when moving to a large carrier?

The timing of this question is near impeccable as we recently had a similar situation come up with a former (now return) client. It’s easy for the large carriers to promise a company big discounts and lower claim costs with their health plans, but not so easy for them to...

Nov 08, 2017

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2 min read

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When companies move to self-funding, do they take on a lot of extra work in the day-to-day plan administration?

This is another great question that comes up often! When moving to self-funding, the responsibility for plan administration does shift from the insurance carrier to the employer – but that doesn’t necessarily bring a lot of extra work in-house. That’s because most employers choose to partner with a third party administrator...

Jul 20, 2017

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1 min read

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