Keystone recently had the privilege of serving a municipality in Ohio, advising them of restructuring their health insurance plan to save money that could be spent on other much-needed projects, like critical infrastructure improvements.
The County moved to a self-funded insurance plan, allowing them greater control of their pharmacy costs and analyzing claims and administrative spend through better reporting.
If you're on a fully-insured or level-funded plan and don't understand the justification for the annual increases you receive, self-insurance may be the way to go. It creates greater power over shaping your plan structure and how claims are paid. Employers with as small as 25 employees can even benefit from this plan structure.
Keystone and our network of agents would be happy to discuss your current plan, financial position to pay claims up front, and options for the future.