Breaking the myths of partially self-funded health insurance.

Myth: Our organization is too small for partially self-funded health insurance.

Groups as small as 50 people can enjoy the benefits of a partially self-funded plan, regardless of the self-funding level. Costs are lowered. Outcomes are improved. Sophus Health manages the details and risk is managed through an outside re-insurance company. Some very large organizations assume the risks of being fully self-funded, based on the strength of their financial picture and number of participants. Small to medium organizations can also enjoy autonomy and empowerment by taking the partially self-funded path.

Myth: Partially self-funded insurance means I will have to do lots of work.

The fact is, your workload could be substantially reduced by partially self-funded insurance because it is so well managed. It gives you the opportunity to better understand the kinds of claims affecting your organization, which can help you improve program management and control costs.

Myth: Partially self-funded insurance means our organization will pay more.

No. Your healthcare costs can actually be lowered by means of a partially self-funded plan. Sophus Health helps you to craft a plan that precisely fits your scenario, giving you greater control over costs. You purchase insurance at wholesale prices, which means your group avoids markups on claims, prescriptions and labs because you own the plan. You control it as the landlord of your plan, not the tenant. When you choose this direction, you automatically realize greater autonomy and lower costs, while still protecting your operation from losses. It’s a way to largely control your own destiny, and we are here to guide you, Plus, you can make changes and additions to your plan without ever having to shop around for new insurance. You avoid renewal rate increases. Benefits need never be reduced in order to cut costs.

Myth: Wellness programs are too expensive for our group.

We’re happy to report this just isn’t true. You and your employees can see direct savings as a result of the Sophus model. It all comes down to the integration of partial self-funding and deep caring of the Sophus Learning Culture.