|What does a self-insured plan mean?
Sep 24, 2002
Could you explain to me exactly what is meant by self-insured medical coverage? I have heard this tossed around my office lately since my company is possibly changing insurance carriers. How would this effect my coverage since I am HIV positive?
Response from Ms. Franzoi
A self-insured plan is one that is not insured by an insurance company. In an insured plan, the employer pays a premium to the insurance company and the insurance company has the liability for all claims. In a self-insured plan, the employer pays the insurance company or a third party administrator to administer the plan but the employer pays all of the claims, i.e., the administrator charges the employer an administrative fee plus the cost of actual claims.
Disability Denial of Claim
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