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Fully Insured vs Self-Insured vs Level-Funded: What Does It All Mean To The Small Employer?

Fringe Benefit Analysts

What Is a Fully Insured Health Plan? Fully insured” is what most people mean by “ insurance ” or group health insurance. These individuals or employers are then free to accept the new premium rates or shop around with other insurance carriers. What Is Pooling?

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Illness or Injury: How Your Business Can Protect Your Employees

InterWest Insurance Services

Tax-deductible premiums. Advantages of group disability insurance to the worker include the following: Affordability. The employer reports income information to the disability insurance carrier. Portability is an important feature, because disability insurance can be difficult to qualify for on the individual market.

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Popular virtual care options for today’s workforce

Insperity

If employees can better manage their health and avoid using urgent care centers and ERs unless necessary, it can help businesses better control benefits costs. Wellness apps As part of your company’s wellness program , you can offer virtual resources for managing a healthy lifestyle proactively in a DIY, self-directed way.

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How to lower employee stress about health insurance

Insperity

At a high level, employees might be directed to the: HR benefits specialist Professional employer organization (PEO) service team or dedicated HR specialist (if your company outsources certain HR functions to a PEO, and the PEO provides benefits to your employees) Contact center or member services at the insurance carrier.

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Are Level Funded Health Plans Your New Benefits Alternative?

PeopleStrategy

They are a hybrid approach to providing healthcare coverage that combines elements of traditional fully-insured plans with those of self-funded plans. With a level funded plan, your business pays a fixed monthly amount (a level fee, similar to a premium) to an insurance carrier or third-party administrator.

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Flood insurance: Is your home protected?

Higginbotham

After all, according to the Federal Emergency Management Agency (FEMA) , all 50 states have experienced floods or flash floods in the past five years. Are floods covered by homeowners’ insurance? Elevation: Homes at a higher elevation may be considered to be a lower flood risk, which could reduce flood insurance costs.

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How small businesses can think about HR integrations

BerniePortal

Unlike bigger companies, these organizations haven’t historically had the resources to adopt and manage multiple point solutions to address the full HR ecosystem. There are more comprehensive human resource information systems (HRIS) on the market than ever before, which is particularly beneficial for small businesses.