Slash Costs Instantly With This Self Funded Insurance Secret
Financial Benefits of Self-Funded Insurance
One of the primary advantages of self-funded insurance is cost savings. By eliminating the profit margin that insurance companies add to their premiums, businesses can reduce their overall healthcare expenses. Additionally, self-funded plans offer more transparency, allowing employers to see exactly where their healthcare dollars are going and make data-driven decisions to optimize their benefits.
According to the Employee Benefit Research Institute, self-funded plans can save employers 10% to 25% on healthcare costs compared to fully insured plans1. These savings can be reinvested into the business or used to enhance employee benefits, creating a more attractive compensation package.