Self Funding

The Advantage of Self-funding

BIG uses self-funding to provide an effective method for excellent cost control while providing sound benefits for employees.

While self-funding isn't for everybody, there are many advantages you should consider.

  1. You will have more control of cash flow ... only premiums and fees are paid monthly
  2. Numerous cost savings accrue from:
    • avoidance of State premium taxes
    • interest you earn on trust funds held in trust
    • avoidance of costly state-mandated benefits
    • lower administrative cost
  3. Cost control measures are easily integrated into your plan and you realize all savings
  4. Plan design flexibility
    • tailored to your specific needs
    • cost saving provisions are easily integrated into your plan
  5. Stability of self-funding. Long term employer experience without changing insurance
  6. Assistance at all times from B I G and the TPA
  7. Self-funding is a popular, cost effective and proven insurance method
  8. Legal precedents have been established. Self-funding is not new
  9. Improved employee relations and communication

B I G Benefits is positioned to help you enjoy these numerous advantages. Our knowledge is what will make your self-funded plan work. From the initial consultation sessions to the final delivery of the Summary Plan Description with your name and logo on the cover, we pledge the very best in experience and knowledge.