Fully Insured Plans
Fully insured health plans are the traditional insurance model in which employers pay a fixed monthly premium to an insurance carrier. The carrier assumes full responsibility for employee claims.
How It Works
- ✓ Employer pays a fixed premium.
- ✓ Insurance carrier manages all claims and risk.
- ✓ Limited access to detailed claims data.
- ✓ Renewal rates determined annually by the carrier.
Advantages
- ✔ Simplicity
- ✔ Predictable expenses
- ✔ Minimal administrative responsibility
- ✔ Suitable for smaller employers
When Fully Insured Makes Sense
Fully insured plans are generally ideal for small organizations that prefer minimal administrative involvement and predictable budgeting.