Is Self Insurance Right for Your Company? Get the Numbers First

Many employers are hearing about self-insurance as the solution to rising health plan costs. While self-insurance can offer significant advantages, it’s not automatically the right choice for every company. Before making this important decision, you need concrete data – not just promises.

Insurance brokers paint an attractive picture: greater control, potential savings, and flexibility in plan design. But here’s what many aren’t telling you: self-insurance isn’t a universal solution, and timing matters.

Once a broker wins your business, they start earning commissions regardless of whether self-insurance is implemented. This can create a situation where the urgency to transition you to a self-insured plan diminishes after you’ve signed on.

Some employers find themselves in a frustrating position: they’ve switched brokers based on the promise of self-insurance, only to discover their group isn’t qualified for this approach due to factors like:

Current group health status
Claims history
Group size
Financial readiness

The Right Way to Evaluate Self-Insurance

At 5G Benefits, we believe in a data-first approach. Before making any decisions about self-insurance, you need to see the actual numbers. This is why we offer every prospective client our free 9-Slot Analysis.

The 9-Slot Analysis shows you:

Multiple funding options side by side
Detailed cost comparisons
Potential savings scenarios
Risk assessments
Implementation requirements

This comprehensive analysis helps you understand if self-insurance makes financial sense for your company right now.

Next Steps

Before you decide on self-insurance or choose a broker to implement it:

Request our free 9-Slot Analysis
Review your current group health metrics
Understand your financial objectives
Evaluate your risk tolerance
Consider your administrative capabilities

The Bottom Line

Self-insurance can be an excellent strategy for controlling health plan costs, but it must align with your company’s current situation and capabilities. Don’t make the decision based on promises alone. Get the numbers first.

Ready to see if self-insurance makes sense for your company? Contact us for a free 9-Slot Analysis. We’ll help you understand all your options and make an informed decision based on real data, not just possibilities.