GROUP

Self  Funded

Plans

What are Self Funded Plans?

Self Funded plans will involve the employer assuming the financial risk when providing healthcare benefits to their employees. Instead of paying a pre-determined premium to an insurance company, self funded employers will pay for any medical claims out-of-pocket and as presented. Usually, self funded employers get the funds to cover medical claims from a special trust fund with company and employee contributions. They will also avail the services of an insurance agency or third-party administrator (TPA), who will process or adjudicate claims.

The insurance agency may also provide additional services under self funded plans, such as determining how much money must be set aside, collecting premiums, maintaining coverage eligibility and membership records, and administering benefits, among other administrative tasks related to the self funded plan. The pay-as-you-go funding model may help companies save on their annual healthcare budget if employee medical claims are lower than expected.

The Benefits of  Self Funded Plans

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  • Greater Flexibility and Control

    There will be more flexibility when meeting your employees’ healthcare challenges and spending only on the medical services that were used. This allows you to tailor and customize your company's benefits plan to meet your employees' needs.

  • Receive Financial Transparency

    Receive detailed reports in a self funded insurance plan so you will know exactly where your healthcare budget is going. You also won’t need to pay for the medical services your employees don’t use, so there is a higher chance your company saves more.

  • Visibility of Plan Performance

    The self funded reports employers receive won't only give them data transparency. It will also help employers understand how to tailor their current healthcare plan and cater to the specific needs of their employees.

  • Fewer Regulations and Costs

    The government intervention for self funded plans will be limited to the federal level, and there are no state-levied premium taxes. Self funded employers can also save on administrative costs, taxes, and profit associated with full insurance plans.

  • Network of Providers

    When availing self funded insurance from us at RVP Insurance, you will be able to have the flexibility and control over your healthcare budget while still having access to a comprehensive network of doctors, hospitals, and specialists. 

Other Available Group Insurance Plans

Full Insured Plans

Rest assured that your company and employees receive the healthcare coverage suited to their lifestyles with a full insured plan. At RVP Insurance, we can help take care of tailoring the benefits your employees need, including dental, vision, and disability coverage, while sticking to your company’s healthcare budget.

Level Funded Plans

Avail of a Level Funded Plan with us at RVP Insurance to receive adequate stop-loss coverage and avoid unexpectedly high costs in case medical claims go over the company’s liability cap. This is an added layer of protection for companies, without compromising your employees’ quality of healthcare.

Supplemental Insurance

Fill in the “gaps” of your company’s current coverage with a group supplemental health plan. Get the extra protection your employees need to cover copayments, coinsurance, or deductibles not included in existing health insurance plans.

Why Choose RVP Insurance?

RVP Insurance is a family-owned health insurance agency that has been operating for over 30 years and counting. Our pool of health insurance professionals has the training and expertise to guide every company and individual to find the right insurance plan according to their lifestyle and unique needs. We will also be here to guide you every step of the way when it comes to self funded insurance plans, minimizing possible financial risks associated with the plan through customizing plans at competitively-priced rates.


Here at RVP Insurance, we use a data-driven approach so you won’t have to worry about going over budget from paying for unused benefits. We understand that every company is different and will have unique needs to be met, which is why we are here to help your employees receive adequate healthcare through our custom health insurance products tailored for groups, cost-effective and flexible rates, as well as our wide network of leading insurance providers in the country. Contact us now to learn more about self funded insurance and the services we offer.

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