Self Funding is one of the fastest growing segments of the employee benefits industry and will only continue to grow under the new Healthcare Reform law. Employers are turning to self funded programs to control, maintain and reduce their insurance costs, while at the same time provide meaningful benefits to their employees to help attract and retain a talented workforce.
Self Funding Certified Provider™ is a certification of excellence in the administration and servicing of Self Funding Programs. The objective of this certification program is to allow employers, insurance agents and benefits consultants to better evaluate what self funding programs and service providers they should work with, and which ones have the most attractive programs with the best return on investment.
Implementing a Self funding program can be one of the most challenging obstacles for a company. With so many different types of Self Funding programs and solutions, it can be difficult for an employer or insurance agents to choose which they will offer and what company they will work with. For companies first starting a self funding program it can be a strenuous task just to try and choose which programs within the self funding program to implement. For employers with existing self funding programs in place, it can be intricate to choose what type of claims management or technology program to roll out next, and which company is the best partner to do it with.
Out of all the challenges for employers when implementing a self funding program, the most identifiable one is finding a reliable self funding provider.
The Self Funding Certified Provider™ requires companies applying to meet minimum standards and best practices to be transparent in their services and results. It is also meant to enable companies to easily identify the best self funding companies that offer specific or unique types of self funding programs or solutions.
Benefits for Employers/Corporations working with a Self Funding Certified Provider™
By requiring the self funding vendor an employer works with to be a Self Funding Certified Provider™, an employer is assured that the vendor:
- Has met the industry standards required in the self funding services they provide
- Has measurable results (ROI) and successful programs in place with other employers
- Is transparent with their results and pricing
- Is reliable
PROGRAM COST: $1,500
Benefits of Becoming a Self Funding Certified Provider™
By becoming a Self Funding Certified Provider™ the self funding provider gains a competitive edge in the industry. The Self Funding Certified Provider™:
- Provides the "Excellence in Self Funding Certification" logo which you can proudly display in your marketing materials and on your website
- Creates trust and confidence in your organization
- Shows you are accredited. Companies/Employers and Insurance Professionals will look for self funding providers who have been accredited.
- Shows your organization is committed to transparency in your program, it's outcomes and ROI
- Sets your organization apart from others. By showing you hold your organization to a higher standard than other self funding providers
- Receives a free featured listing in Self Funding Magazine as a Self Funding Certified Provider™
- Receives a free featured listing on the Self Funding Employer Association website as a Self Funding Certified Provider™