Is Self-Funding a Fit for Your School, City or County?
NIS’ Funding Assessment Will Help You Decide
Schools, cities, counties and other public employers of all sizes are moving rapidly toward self-funding as a cost-control strategy. In the past, self-funding was only something larger organizations attempted. Things have changed. How do you know if self-funding is the right way to go for your organization?
When NIS is your Benefit Consultant, we will guide you through a rigorous assessment of your health plan and make customized recommendations based on the results. Our process involves the following steps:
![funding-step-1-alt Step 1](https://www.nisbenefits.com/wp-content/uploads/2017/08/funding-step-1-alt.png)
Gather 3-5 years of medical and Rx claim experience from the insurance carrier.
![funding-step-2-alt Step 2](https://www.nisbenefits.com/wp-content/uploads/2017/08/funding-step-2-alt.png)
Review history for high claims, Rx usage trends and areas of utilization.
![funding-step-3alt](https://www.nisbenefits.com/wp-content/uploads/2017/08/funding-step-3alt.png)
Evaluate the group for age, health plan participation, turnover, financial strengths and weaknesses, and risk tolerance.
![funding-step-4alt](https://www.nisbenefits.com/wp-content/uploads/2017/08/funding-step-4alt.png)
Score your group on the risk spectrum and discuss in detail.
![funding-step-5alt](https://www.nisbenefits.com/wp-content/uploads/2017/08/funding-step-5alt.png)
Provide a self-funding quote.
![funding-step-6alt](https://www.nisbenefits.com/wp-content/uploads/2017/08/funding-step-6alt.png)
Fold in any and all stakeholders. Discuss options.
FREE WHITEPAPER:
Understanding Self-Funded Vs. Fully-Insured Health Insurance Plans for Schools, Cities, and Counties.
With school, city, and county budgets stretched tightly, some are considering a switch to a self-funded health insurance plan. This change can yield many significant financial benefits.
Download our whitepaper to learn more about self-funding, including:
- The structure of self-funded plans and their costs
- Advantages and disadvantages of self-funded plans
- Types of employers who self-fund
- And more!