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District reviews self‑insured health plan vs. fully insured options; current self‑funding remains viable with some cost‑containment wins
Summary
Consultants reviewed the district’s long-standing self‑insured health plan, compared it to fully insured options from regional carriers, and recommended retaining the self‑insured approach while pursuing cost-containment programs and monitoring claims trends.
The committee heard a detailed review of the district’s employee health plan options from the district’s benefits team and external insurance consultants.
Consultants explained the difference between fully insured (monthly premium paid to an insurer that assumes the risk) and self‑insured models (district assumes claim risk and pays claims; the district currently purchases stop‑loss protection). Benchmarking data placed the district’s funding/premium near the midrange for similar Wisconsin districts and somewhat favorable compared with many fully insured options, staff said.
Consultants reviewed the pros and cons of…
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