With the clock ticking on implementation of major Affordable Care Act reforms, more and more employers are moving from fully insured health plans to self-funded arrangements — and the group size of these plan sponsors is shrinking to below 50 employees. For health insurers, a significant migration of small employers to self-funded coverage could reduce premiums and profits, and lead to adverse selection for the full-risk pool, if self-insuring employers have healthy worker populations. And state and federal lawmakers are weighing bills to curb self-funding by limiting reinsurance protections available to employers or setting a minimum group size for self-funded plans. Learn all the details of the risks and rewards of self-funding for employers, the likely impact on insurers, and the legal, actuarial and financial pros and cons of making the switch.
The On-Demand recording will be available immediately upon purchase* as a link within a PDF file of the accompanying written materials. CDs and printed materials are shipped via USPS.
Employers are reaching out for guidance on whether to make the switch from fully insured to self-funded plans to avoid certain regulatory requirements under the reform law and gain more control over plan design. Meanwhile, health insurers are weighing the financial impact of accepting reduced risk for medical costs but potentially higher administrative costs, since self-funded customers might be less profitable in some ways, although returns can be very high. Adapting to what may be a significant, long-term movement to self-funding puts health insurers on notice that new challenges and opportunities exist heading into 2014 and beyond.
Hear a fast-paced discussion of these big-dollar issues with two top employee benefits consultants. You’ll learn the details of the fast-growing trend toward self-insurance … and get practical advice that will help your organization position itself for the future, including:
CHANTEL SHEAKS, health care consultant for American Fidelity Administrative Services, and adjunct professor of law at Georgetown Law, is a graduate of Randolph Macon Woman's College, B.A., and Northeastern University, J.D. She formerly was principal of government relations, Buck Consultants. Prior to working at Buck, she served as the legislative counsel for tax and benefits at Workplace Flexibility 2010, an Alfred P. Sloan Initiative at Georgetown University Law Center. Before joining Workplace Flexibility 2010, Chantel was a partner at McDermott, Will & Emery LLP in the firm's Employee Benefits Department. In this position, she advised employers, plan sponsors and employee benefit plans on all aspects of ERISA and the Internal Revenue Code relating to retirement and health and welfare plans. Chantel also has concentrated on ERISA litigation and assisted with labor arbitrations and collective bargaining. She has written several articles on employee benefits and has also been a speaker on the subject at numerous seminars and conferences.
LAWRENCE (MAC) MCCARTHY is the president of McCarthy Actuarial Consulting, LLC, combining the discipline of actuarial science with extensive experience and a reputation for integrity to help employers, health plans and researchers find innovative solutions to health and welfare issues. He has more than 30 years of health and welfare actuarial experience, with more than 20 years advising employers and plans on the development and financial management of innovative programs. His specialties include consumer-driven health care, wellness and disease management programs, multi-option benefit programs, post-retirement medical and disability plans. Mac currently chairs the Conference of Consulting Actuaries’ Healthcare Reform Taskforce and is leading a joint work group of the Society of Actuaries and the American Academy of Actuaries to evaluate certain aspects of proposed national health reform legislation. He also serves as a member of an American Academy of Actuaries committee on consumer-driven health plans.
Moderator: Patrick Connole, editor of AIS's Health Plan Week
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