Nearly 100 million workers and their dependents currently receive their health benefits through self-insured group health plans sponsored by their employer or union. However, more often than not, these individuals are not even aware they receive coverage through a self-insured (also known as self-funded) plan.
Also, if your employer/union does not sponsor a self-insured group health plan today, it could very well be considering this option for the near future, given changes occurring in the healthcare marketplace.
So what do you need to know about being a self-insured group health plan participant? Spend a little time reading through this section of the SIEF website and you’ll learn the basics to be prepared to discuss self-insurance with your employer, co-workers and family members.
Specific topics include:
- How does a self-insured plan work and how is it different than a traditional health insurance plan: Will we notice any difference in the way our claims are handled? Who pays for what? How confident can we be about our share of costs? How are self-insured plans designed and managed?
- How are self-insured group health plans regulated?
- How are my and my family’s privacy protected in a plan where my employer basically pays for my health treatment?
- What other consumer protections are available to self-insured plan participants?
- Does being part of an employee group help control costs compared to individually buying a conventional policy or joining a state exchange?
- How is the quality of my healthcare treatment maintained? What are my choices for professional service providers or facilities?
- What do other employees think about being part of a self-insured group health plan?
- Should you suggest self-insurance to your employer/union?
- Glossary of self-insurance terms
SIEF hopes this information about self-insured employee healthcare plans is useful to visitors. Any further questions or concerns are welcomed.