Proposal

The BIG Advantage Can Work For You

Converting from a fully insured plan to a self-funded plan is a series of simple steps.

1. Provide a copy of your present benefit plan.
2. List the employees and dependents, their age or birthdays, and designate male or female.
3. Provide a copy of your last month's billing from the present carrier.
4. Detail your company benefit package ( std, ltd, vision, dental etc.).
5. Indicate company contribution and if a Section 125 plan is in effect.

The above information will be used to prepare a comparison proposal. Because benefits are complex and difficult to compare, the initial proposal will mirror your present benefits. If the cost of a self-funded plan is equal to or less than your present fully insured plan the advantage is clearly recognized. You would enjoy equal benefits at a lessor cost with the possibility of owning any claims money that is not used during the coming year.

After the total price comparison is completed, the next step is to determine the likes and dislikes of your present plan. Because flexibility is one of the strong points of a self-funded plan, several planning sessions will be scheduled at your convenience to analyze the things you may want to customize in your company's plan.