Employee Benefits Updates provided by Parker, Smith & Feek

Weighing the Decision of Switching to a Self-Funded Plan

As healthcare costs continue to rise, many employers are searching for ways to control costs while keeping benefits affordable and attractive to employees. For some employers, self-funded plans can be an effective strategy for lowering healthcare costs. Many employers have adopted these plans in recent years. According to a 2020 Kaiser Family Foundation Employer Health Benefits Survey, 67% of employees who receive employer-sponsored health coverage obtain it from self-funded health plans, representing a 23% increase since 1999.

To learn more, read the most recent HR Insight

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