New Resources Developed to Educate Consumers About Self-Funded Health Plans

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Serving as an educational outlet for consumers, the Self-Funding Success website recently developed and published several new resources. These pieces focus on a variety of elements that contribute to the positive results many employers are experiencing with self-funded health plans – workplace wellness, prescription cost management and price transparency.

Self-Funding Success Website
Our goal in developing these new resources is to give consumers a better understanding of how so many components link together to make the self-funding model work.

Organized by a network of third party administrators (TPAs), the Self-Funding Success website recently added several new resources in its ongoing effort to educate consumers. The website first launched in 2016 as a way to inform the public about the concept of self-funding in response to the rapidly growing interest in this type of health plan.

The new materials include a two-part series on the function workplace wellness has in self-funded plans, as well as content related to the advantages this plan structure offers in helping employers control prescription costs and better ensure price transparency.

“The original purpose of the Self-Funding Success website was to get the word out about how self-funding works and share some of the results employers are having with these plans,” explained Caroline Fraker, a Self-Funding Success contributor and TPA with MedBen. “With such a receptive response, we are now in the phase of developing more topic-specific content to help address some of the commonly asked questions about self-funding.”

In the newly developed “Role of Workplace Wellness” series, readers learn why encouraging healthy behaviors is so important to cost control in self-funding. They are also introduced to some of the more popular tactics of a wellness program, including health screenings, challenges and coaching.

The “Better Control of Prescription Costs” piece explains how TPAs help self-funded employers save on prescription costs as new drugs are introduced into the market and prices continue to climb. “Focus on Price Transparency” also explores approaches to cost savings with self-funding by examining price comparison shopping and reference-based pricing (RBP).

“Our goal in developing these new resources is to give consumers a better understanding of how so many components link together to make the self-funding model work,” Fraker explained.

Along with the educational resources featured on the Self-Funding Success website, there are also sections dedicated to real-life success stories, industry news and finding a TPA. According to Fraker, “Self-funding is a concept that more and more employers are researching as health care costs continue to soar.”

Self-Funding Success is an initiative designed to educate the public about how self-funded health plans work and the ways employers are having success with them. It is organized by a group of third party administrators (TPAs) across the U.S. For more information, visit http://www.selffundingsuccess.com/.

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Dave Willems
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