With self-funded employee benefit plans, the employer is financial responsible for providing benefits to their employees and pays claims as they are incurred, rather than paying a fixed premium.
These benefits plans include, partial self funding, stand alone self funding, and captive models.
A Third Party Administrator, manages the plan and is in charge of maintaining your eligibility, preparing claims reports, as well as customer service.
If you’re interested in learning a bit more about employee assistance plans, our employee benefits experts can help you to determine if it might be a good fit for your business.