FAQ Resource Published to Answer Common Questions about Self-Funding

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Adding to its collection of educational resources for consumers, the Self-Funding Success website recently developed an FAQ reference. This piece addresses questions on the basics of self-funded health plans, as well as many others related to costs, planning and implementation.

Self-Funding Success
Working directly with self-funded plans is what our TPA contributors do day in and day out. We understand the questions that come up and want to bring more clarity to the main points surrounding self-funding.

In its ongoing effort to educate consumers about how self-funded health plans work, the Self-Funding Success website has recently developed and published an informational resource that addresses frequently asked questions.

FAQs about Self-Funded Health Plans” was created based on common inquiries the site’s team of third party administrator (TPA) contributors regularly receives as employers, benefit professionals and other interested parties explore the concept of self-funding. The new resource features a Q&A format that covers three main sections:

  •     Self-Funding Basics
  •     Self-Funding Costs & Planning
  •     Self-Funding in Action

“In a time when the interest in self-funding continues to grow, we have been fielding a lot of questions on things like how these plans are structured, who regulates them and what kind of savings can be expected,” said Caroline Fraker, a Self-Funding Success contributor and TPA with MedBen. “This piece aims to serve as a starting point for information and answers.”

The new FAQ resource organizes questions by category, gives a detailed explanation for each one and provides readers with links to additional information, as appropriate.

Along with the FAQs, visitors to the website can find a full Self-Funding 101 section. This includes several “Intro to Self-Funding” and “Why Choose Self-Funding” resources that cover everything from choosing a TPA and understanding stop loss insurance to controlling health claim costs, implementing workplace wellness programs and custom designing health plans by workforce. The TPA-supported website also highlights some of the individual successes employers are having with self-funding.

“Working directly with self-funded plans is what our TPA contributors do day in and day out,” Fraker said. “We understand the questions that come up and want to bring more clarity to the main points surrounding self-funding.” She added, “Education is the first step in determining if this plan type is the right fit for a company, so that’s what makes these resources so helpful.”

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) from across the U.S. For more information, visit http://www.selffundingsuccess.com/.

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Dave Willems
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