You might be self funded if you offer a Health Reimbursement Account. We will discuss the types of HRA’s that employers use and the special rules applied to HRA’s including PCORI.
You might be self funded if you have a level funded insurance program. Health underwriting has been used for years to get rates for medical insurance. These level funded programs have a very similar feel to a fully insured health plan, but they are not! Many carrier companies and service providers offer a level funded or small group self funded plan. Employers should fully understand what it means to be self funded!
You might be self funded if you offer a Health Care Flexible Spending account. For groups subject to ERISA, disclosure notices apply, discrimination testing and more to consider if the employer contributes.
You might be self funded if you don’t understand the Actively at Work Provision of insurance contracts. A brief discussion about how some insurance policies can exclude members from coverage and what language is needed to protect the employer from paying the claim.
You might be self funded if you don’t have Employment Practices Liability Insurance. End with a discussion on a valuable insurance policy in today’s employment landscape.
Sarah Sampson is the Employee Benefits Practice Leader for FEE Insurance Group. Sarah was recently recognized by the Wichita Business Journal as one of the Top HR Professionals for 2020. She likes knowing about insurance and working with a variety of people. Most of her time is spent helping people and that’s the best part.