The idea of employers self-funding their own health insurance benefits has been a hot topic for years, particularly since the Affordable Care Act became law in 2010 and it became known that self-funding could help employers avoid some of the law’s strict requirements. However, now that the public health insurance exchanges have opened, reality is upon us and Jan. 1 is right around the corner.
Business owners may have flirted with the concept of self-funding in the past, and may have even discussed it with their brokers, but implementation has been notoriously slow. The likely reason behind this is that while business owners are now at a point where they understand the benefits of self-funded health plans, they are still at a loss when it comes to figuring out exactly how to get started.
