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Level-Funded Plans

Learn the pros and cons of a self-funded insurance plan design and understand the specific level funding option to see if this is the best fit for you.

Within the world of group insurance, there are a few different ways to design your plan. Due to the fact that the insurance cost is typically a top 5 expense for an organization, if not a top 3, understanding the different ways to design your plan is paramount to an organization's success. No other expense that sits so high up your list of costs would be allowed to operate inefficiently, so it is important that you know what your options are. This webinar will touch upon the principles of a fully insured plan design and then we will dive into what a self-funded insurance plan design is. In getting into the details of what a self-funded insurance program is, we will cover the pros and cons. Once we have defined those, we will spend the majority of the session discussing a specific type of self-funded arrangement known as level funding. We will address the ways in which a level-funded plan blends some of the pros and cons of a self-funded program and who might be a good fit for looking into this option. Lastly, we will spend a fair amount of time reviewing some of the key things to know about going level-funded so you are well-armed with information if you decide to explore this option for your benefits package.

Runtime: 88 minutes
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Explain Fully Insured Plans vs. Self-Funded Plans

  • How Does Billing Look and Differ?
  • How Are Claims Paid?
  • How Are Increases Levied?

Understanding Self-Funding

  • Basic Terms
  • Contract Language and Protections
  • Pros and Cons

What Is Level Funding and How Does It Blend the Aforementioned?

  • Level Funding Basics
  • How It Blends Fully Insured and Self-Funded
  • How It Addresses the Pros and Cons of Self-Funding

Who Is a Good Fit for Level Funding and What Do You Need to Watch out for?

  • Level Funding Candidates
  • Level Funding Contract Differences
  • Working With a Carrier vs. a TPA
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More Program Information

Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on March 10, 2017.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Tobias Kennedy

Tobias Kennedy

Montage Insurance Solutions

  • Executive vice president of Montage Insurance Solutions and CEO of Simpolicy
  • Industry leader in group employee benefits programs and designing insurance packages for organizations
  • Conducts regular seminars and workshops on numerous insurance and compliance topics
  • Wrote several publications related to the areas of health insurance
  • B.A. degree in political science, LMU; Underwriting training from Blue Shield of California
  • Licensed in both Employee Benefits and also Fire & Casualty. ACA certified
  • Can be contacted at 818-903-5851 or [email protected]
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 399924
Published 2017
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