Why do employers choose to self-fund their employee benefit plans?

Employers self-fund their benefit plans primarily, though not exclusively, to save on the cost of employee benefits. It is clear from most all studies on the subject that self-funded plans cost less on average than insured plans.

Additionally, multi-state employees self-fund their health plans to avoid compliance with the various mandated coverages of the various states.

Other reasons include the desire to establish a long term employee benefit plan and not be subject to the insurance company shopping, plan and carrier changes that often occur under insured plans.

Is self-funding right for me?

If your company is not financially stable, self-funding is not for you. If you are a small group that expects to pay less in premium than your group will cost your insurance company, self-funding is not for you. Otherwise, some degree of self-funding is likely for you.

Does a self-funded plan require more administration than an insured plan?

No. Self-funded plans require about the same amount of administration as insured plans. The significant difference is that with ARM, you will have people that provide you with flexibility and timely support in your efforts to support the plan.

Our clients have found that the support we offer actually reduces their administrative burden.

What type of benefit plans do I have to choose from?

You may self-fund any or all of your medical, dental, vision or prescription drug plans. ARM will also administer your COBRA and Flexible Benefit Plans.

Reporting is a big issue for me. What can I expect from the reports I get from ARM?

You can expect reporting that gives you great detail and meaningful summary information regarding your plan. Additionally, you will receive a detailed claim history file that you can manipulate in Microsoft® Office Excel® to produce your own custom reports.

Am I locked into a self-funded plan?

You are never locked into a self-funded plan. As the employer, you are free to change your funding method to match your corporate objectives at any time.

Can ARM help me consolidate the number of health-care plans that use?

Yes. One of the unique opportunities available from ARM is to put employees in various locations under a single plan while still maintaining the regional flavor of your benefit plan. Additionally, you can combine your current medical, dental and vision plans into a single self-funded plan.