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Healthcare

8 Questions You Should be Asking Your Benefits Advisor… Continued

Are you paying your benefits advisor for activity or for results? Are you paying them to administer your plan or to control your costs? There are eight questions you can ask to find out. In the previous article, I shared with you the first four questions. Here are the next four.   5.  What do you do …

8 Questions You Should be Asking Your Benefits Advisor… Continued Read More »

Fiduciary Duty

What are my Fiduciary Responsibilities as a Self-Funded Employer?

Many midsize employers believe that self insurance is full of rules and redtape that fully insured plans don’t have. However, that’snot necessarily the case. Compliance is integral to self insurance and there are several items that you are responsible for as a self-funded employer, including:• ERISA fiduciary responsibilities,• Non-discrimination rules,• Reporting and disclosure,• Requirements notices,• …

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What is Stop Loss Coverage?

The Ins and Outs of Stop Loss and Reinsurance

The number one concern I hear from employers when we talk about migrating to a self-insured or partially self-insured environment, is that they don’t want to be responsible for all the claims. What is stop-loss coverage? Stop-loss or reinsurance is how you protect yourself from large claims if you are self-insured. You should always have reinsurance. What …

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No More Mistakes

I imagine you’ve heard about several different ways to manage your stop-loss coverage as a mid-sized employer. I’m going to explain on option, stop loss coalitions, and how to make these contracts work for you. With group stop-loss coalitions you would purchase stop loss coverage as a group to help mitigate your risk, like you …

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