When CareHere CEO Ernie Clevenger suggested his company switch to self-funded health insurance, there were more than a few people, including the firm’s chief financial officer, who expressed reservations. Not surprisingly, their main concern was what would happen if the 800 employee Brentwood, Tenn.-based chain of on-site health clinics experienced a catastrophic claim.
That hardly surprised Rick Peeples, the benefits adviser who was encouraging CareHere to make the move.
“Seventy-five percent of my clients are self-funded,” explains Peeples, “and a lot of organizations on the cusp of self-funding still don’t know if they’re really comfortable with it.”
To help ease their concerns, the executive vice president and member services director for Lockton Companies, the world’s largest privately held insurance brokerage, presents them with them a win-loss analysis. (read more)