IMA is a premier provider of self-funded benefits programs for all size businesses.
Self-funding provides the potential for savings that is not available with a fully-insured plan. If claims exceed expectations, the Employer’s liability is capped under the reinsurance “stop-loss” policies.
Fully-insured plan premiums are 100% taxable. Using self-funded plans, the only taxable premiums are those paid for specific premium, aggregate premium and aggregate accommodation. This reduces the client’s costs.
Self-funding provides the flexibility to design a benefit plan according to the client’s needs and preferences, subject to federal law. This differs from fully-insured programs where there is little or no flexibility in plan design and benefit programs, other than in choosing a canned approach.
Considering the spiraling cost of health care, many Employers are choosing self-funding as the only logical method of continuing to offer health insurance coverage as an employee benefit.