According to Paul Johnson, contributing author to Employee Benefit News, and CEO of Redirect Health, there has been a steady increase in the number of employees covered under partially or fully self-funded health plans in the United States over the last 10 years.
While self-funding has been a methodology that many large employers have used for years, the number of small to medium sized companies adapting the self-funding methodology is growing. It allows them to customize their health care benefits to meet the needs of their employee base and recruit competitively with larger employers, while also saving valuable health care dollars.
Switching to self-funding, no matter what the size of the company, however, means taking on additional risks and responsibilities. Being aware of those responsibilities and the challenges that come with them can smooth the transition and help to attain the savings and customization self-funded employers seek.
CTI offers all sizes of self-funded employers a number of options to help them better understand, navigate, and minimize risk when it comes to managing the administration of their self-funded plan. We want to make sure you have selected a trusted, independent auditor to help ensure your health care dollars are spent the way you intended them to be.
We invite you to visit our website for more information.