Benefit White Paper Explores Plan Differences

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Grizzaffi Darby provides CFOs with benefit planning information - Grizzaffi Darby, one of the largest benefits providers in Texas, recently released a white paper entitled “Self-Funding Plans: The devil is in the details”. This white paper offers HR professionals and CFOs the information they need to accurately evaluate self-funded, fully funded, self-insured and fully insured benefit plans to make the best choice for the company.

When digging into exactly what happened, we often find that the client, if given proper advice and options would have chosen to self-fund the plan—but use different vendors or contracts. Unfortunately, most of these horror stories could have been avoided with proper information.

Grizzaffi Darby, one of the largest benefits providers in Texas, recently released a white paper entitled "Self-Funding Plans: The devil is in the details." This white paper offers HR professionals and CFOs the information they need to accurately evaluate self-funded, fully funded, self-insured and fully insured benefit plans to make the best choice for the company.

The number of employees covered by self-funded plans has increased since 1999, and firms with more than 5,000 workers are the most likely to utilize this type of coverage. In 2005, 82 percent of workers in these large firms were covered by partially or completely self-funded plans, compared to 13 percent of workers in firms with less than 200 employees in that same year. Grizzaffi Darby, LLC President Trey Darby points out that this discrepancy may be caused by a fear of self-funding in mid-sized and small firms.

“Most companies take one of two paths [to self-funding]: they plunge in and spend too much time and money dealing with the negative repercussions of their decision or completely avoid self-funding because of fear,” Darby said. “Education can help professionals make the best decision for their company.”

In "Self-Funding Plans: The devil is in the details," Grizzaffi Darby explores the intricacies of programs that are available to CFOs seeking to reduce benefits costs by choosing the appropriate funding option for their company. More specifically, the paper includes:

  •     The differences between self-funded, partially self-funded, fully insured and self-insured plans
  •     Pitfalls of each type of plan
  •     Cost savings suggestions

The findings in the white paper are supported by industry research and the experience of Darby and his team. This white paper is one of several that Grizzaffi Darby is releasing to assist CFOs choosing benefit plans for 2007.

“Too often, as a benefits consultant, we hear about self-funding plans gone wrong,” Darby said. “When digging into exactly what happened, we often find that the client, if given proper advice and options would have chosen to self-fund the plan—but use different vendors or contracts. Unfortunately, most of these horror stories could have been avoided with proper information.”

To download "Self-Funding Plans: The devil is in the details," go to http://www.grizzaffidarby.com/signup.asp?refer=PRSelfFundingWP

About Grizzaffi Darby

Grizzaffi Darby is one of the largest benefit consultant teams in Texas. Our strong carrier relationships and more than three decades of experience mean benefit at a lower cost for your company. Grizzaffi Darby creates every benefit package from the “inside out,” going beyond just the basics to gain a deeper understanding of your company’s specific requirements. From conducting employee satisfaction surveys to compiling an in-depth analysis of your claims history, we look at your business from every point of view, especially the most important one – yours.

For more information, visit our website at http://www.grizzaffidarby.com.

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Ann Leason
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