Moving employers to self-funding, we have seen some of them reduce their year-over-year benefits costs by 15% or more in the first year alone. But moving from fully insured to self-funding was not the reason for these cost savings; it’s just the first step.
To be sure, the traditional rationale for moving to self-funding is to save money, which is fair enough if the employee group has a good claims year. Those cost savings – in the form of unspent claim dollars – which would be kept by the carrier in a fully insured plan, instead are retained by the self-funded employer.
Self-funding is not about savings, it’s about control – control of the plan design; claims data; and, most important, the healthcare supply chain.
The bottom line: If you want to deliver year-over-year reduction of the healthcare spend, it begins with self-funding.
Based on CR’s own real-world tests of fuel economy, these hybrids are among the most fuel-efficient new vehicles you can buy. [SWIPE LEFT] The average new vehicle sold in the U.S. gets 25.2 mpg. By comparison, three of the cars on this list get more than double that.🚙💨 @crcars
Give our office a call today to get a quote on your fuel efficient vehicle ⛽️ 🚗 516-413-4479
Make time to take an extra look over your shoulder and in the rearview mirror when out on the roads. Take extra care and watch out for our friends on Bikes!
If you're an enthusiast yourself, ask us about Motorcycle and Recreational Vehicle insurance with Greg Lewis Insurance Agency in Newcastle!
REALTORS! We are here to simplify getting your clients to the closing table. Check out our QUOTE MY CLIENT portal. Simply provide us with your clients details and we will send a home insurance quote directly the them!! https://bit.ly/2GkhXEK
Insurance tip 💡Four-point inspection to determine eligibility of a risk. It allows us to see if the risk has any deficiencies which can make it uninsurable. Make certain that you have a four point inspection for homes that are over 20 years of age.