Unformatted text preview: In self-funded health plans, cost control strategies are created to save money. Employees do not have the ability to purchase riders under self-funded plans. Open enrollment does not take place, though a waiting period for enrollment does exist. Often, third party administrators will handle parts of the insurance’s management, like collecting premiums from people covered. Both types of plans are not portable from one job to the next. If an individual changes employers, insurance is lost after a certain number of days. However, other coverage options are available in cases such as these. In both plans, there are provider networks of HMO, PPO, and POS. Employer-sponsored plans sometimes allow the employee to choose his or her provider network, but this freedom can affect the plan’s cost. In self-funded plans, the cost depends upon the decisions the employer has made in purchasing the health plan....
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- Spring '11
- Self-funded health care, Third party administrator, employer-sponsored plans