Self-funding your health benefit plan can be rewarding for employers. Yet experts say common pitfalls still undermine too many employers’ best efforts.
Joining a captive is a little like deciding whether to try a new entrée for the first time. No matter how many times you’ve been told it will be delicious, you’ll never enjoy the taste unless you’re willing to take the risk of ordering it. And if you’re not interested in taking that risk, you’ll likely settle for never learning just how tasty it could be.
Every bidder for your health plan’s business claims their network of hospitals, doctors and health services will save you money. But how do you know whether that’s true or just marketing hype?
When the annual physical exam identifies a significant health problem, that’s definitely a plus. But what if it leads to a “false positive” test result that results in more tests and possibly even treatment that the patient didn’t need in the first place?