Advantages for an employer that chooses to use self-funded insurance:
Rebates for prescription drugs: The plan may be able to receive a portion of pharmaceutical rebates
Claims data access: Employers of self-funded plans have access to claims data they do not have access to under fully-insured plans due to HIPAA privacy requirements. This helps them analyze and predict future plan costs.
Cost of plan administration: This may be slightly less expensive than a fully-funded
Rebates for prescription drugs: The plan may be able to receive a portion of pharmaceutical rebates
Claims data access: Employers of self-funded plans have access to claims data they do not have access to under fully-insured plans due to HIPAA privacy requirements. This helps them analyze and predict future plan costs.
Cost of plan administration: This may be slightly less expensive than a fully-funded