Once you have determined the best plan to implement for your company, the next step is figuring out how to pay for these benefits. Many employers have negative experiences with ‘self funding’. It is important to understand that ‘self funded’ is only one point on a larger funding continuum.
The decision about how to fund claims of differing benefit programs is based upon the statistical viability or predictable nature of your claims. Bottom line: when armed with the proper knowledge, you are empowered to accurately predict your own claims.
At HR Benefit Advisors, we help our clients fully analyze all options on the funding continuum.
We also provide excellent reporting to help clients make an easy decision about what type of funding makes the most sense for them.