Employee Benefit Advisor February 5, 2021
Employers are increasingly turning to the self-insured model of healthcare out of frustration with traditional insurance — but they need to stop and think before diving in, an expert says.
To combat employers’ growing financial responsibility, companies are switching to self-insured healthcare models to lower costs. Last year, Metro Nashville Public Schools designed a payment system for maternity care with Vanderbilt Medical. In 2019, social media giant Pinterest switched to a self-insured plan because “traditional insurance was letting us down.” The previous year, the Colorado city of Arvada contracted with Paladina Health to restructure its benefit offerings to be self-insured.
“Traditional insurance has just gotten so expensive for any size [employer,]” says Anne Brunson, vice president of self-funded solutions at...
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