The trend toward self-funding is growing rapidly on a national basis. Cash flow benefits and economy of coverage are but two of the advantages responsible for the widespread shift to this concept.
Large companies have employed the self-funded approach for many years to better manage their risk as well as improve cash flow. Corporate assets are strengthened by the availability of these funds that had previously been transferred to Insurance Companies in the form of premiums.
Through our affiliation with several stop-loss carriers, VoDES offers traditional self-funded medical plans combined with full administration services for groups of at least 100 participating employees and up. Stop-loss coverage is underwritten by many of the industry’s finest, most respected carriers. Special group product will allow you to “Take Control of Your Company’s Health Plan Expenses”.
Protection against an unusually heavy year of claims can be provided by the
purchase of Stop-Loss coverage. There are two situations a self-funded client could experience bad losses; a single large claim or an unusually large number of claims during a year. In an effort to manage this risk and limit or cap these situations, Aggregate Stop-Loss Coverage and Specific-Loss Coverage can be obtained. The exact structure of the Stop-Loss Coverage depends on the size of each group (number of participating employees) and the expected claims.