| To combat rising health costs, many companies have turned to self-insurance—covering their workers’ health expenses directly. Philadelphia-based Andrew Cavenagh, founder and managing director of Pareto Captive Services, a firm that helps midsize businesses self-insure, says tax and premium cost savings are one win for employers, but an even better one is gaining control to create bigger cost savings. Rob Piazza, product manager, analytics, at Benefitfocus in Charleston, South Carolina, says many employers fail to realize the cost savings they could because they overlook this opportunity. “Although they’re taking over the role of ‘insurer,’ few employers are acting like one, and they’re likely losing millions because of it,” he says.Read more > |
