| Self-Funded Plans |
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The Preferred Group’s Self-Funded employee benefit plan is one in which the employer pays members for eligible claims related to the plan. This is different from a fully insured employee benefit plan where the employer/employee pays premiums to an insurance company, which then assumes the risk for paying member eligible claims. With a Self-Funded plan the employer assumes the risk and sets up the parameters of the plan. The employer will have the capability to custom design a plan to fit the needs and benefits of the employees. Large companies that Self-Fund tend to offer more generous benefits than those that use fully-insured plans. Key Benefits to an Employee
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