Find the choice that’s right for your business: fully insured, shared or self-funded
We know you want to offer employees competitive health plans that also work in your budget. That’s why we offer businesses with 51 or more eligible employees fully insured, shared and self-funding options.
Find the funding option that suits your business needs and helps control your cash flow. Get started.
Fully insured
We offer fully insured funding for businesses that prefer the predictability of a low-risk, fixed monthly premium combined with a full range of employee programs, such as health and wellness and chronic condition management.
With this option, your business:
- Pays a fixed monthly premium based on the number of employees.
- Assumes no financial risk. We pay employees’ claims based on the benefits of your plan.
- Pays a different monthly premium only if the number of enrolled employees varies throughout the year.
Shared funding
We offer shared funding for businesses with 35 or more enrolled employees that prefer lower monthly premiums with some financial risk and greater network coverage flexibility.
Under this model, your business:
- Pays a lower monthly premium for only the services you need to manage the plan (for example: customer service support, claims processing and billing).
- Is directly responsible for paying employee claims. However, you may not be subject to all premium taxes under the Affordable Care Act.
- Has greater flexibility by taking advantage of customized leasing networks.
Self-funding
We offer self-funding for businesses that prefer even lower monthly costs with increased financial risk and greater network coverage flexibility.
With self-funding, your business:
- Receives plan administration services, including guidance with risk and claims management, as well as compliance.
- Benefits from an administrator who manages the health plan and administers claims.
- Will receive detailed reports and have a thorough understanding of how every dollar is spent.
- Has the ability to customize and design a health plan.
Plan administration
Our shared and self-funding plans are managed by third party administrator ASR Health Benefits, a subsidiary of HAP. Our partnership gives your business the coverage area you need, where you need it, with customized leasing networks.
Businesses benefit from the flexibility of administrative options that may include claims administration, customer service, medical and pharmacy benefit management, stop loss insurance and more.
If you want to learn more about custom health plans and pricing options, fill out this online form and we’ll contact you to get started. Or you can call a HAP account executive at (800) 427-7587 Monday through Friday from 9 a.m. to 4:30 p.m.
