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All group medical benefit plans fall into one of two categories: self-funded or insured. The choice of one over the other should not be made arbitrarily. Each type carries its own set of administrative rules and legal constraints.

What is Self-Funding?
Under an insured health benefit plan, an insurance company assumes the financial and legal risk of loss in exchange for a fixed premium paid to the carrier by the employer. Employers with self-funded (or self-insured) plans retain the risk of ...

Sometimes companies have trouble meeting their human resources needs, especially while also trying to increase profits. To meet some of these needs, many companies are hiring professional employer organizations (PEOs).

When hiring one of these organizations, the company and its employees become employees of the PEO, and the company delegates many of the HR responsibilities onto the organization. Though the company still officially hires their employees, the PEO handles payroll, administering benefits, workers’ compensation, medical insurance and retirement accounts. Then, the ...

According to the Wellness Council of America (WELCOA), the majority health care costs are spent treating preventable chronic conditions. Depending on the health of your employees, this can add up to huge costs for you and your workers. Targeting and helping to prevent chronic conditions among your work force can significantly reduce your health care costs. To increase overall employee health and well-being and achieve these cost savings, many companies are creating wellness programs. As with any major business initiative, ...