Typestries
New Member
Seeing as how our premiums will continue to rise the 21% allowed by law every year, as they have for the past 5 years, I have turned to researching a self funded plan with a stop loss backup.
Not a big insurer run BS laden HSA plan thats really a health plan in disguise. A bank the cash every month plan.
We have saved over $1500 a year on eye and dental vs a plan for each of the pat 4 years. Our docs love cash payment, and have extended generous cash discounts.
Yes, it would require some upfront legal and accounting costs, but moving forward it would give us more control. And yes, it would also increase the liability potential, but that's what the stop loss and or umbrella policy would be for. There are also a litany of tax advantages (until those are changed).
If you look at the monthly cost, our average yearly claims over five years, plus the MOOP for a catastrophic injury, the numbers are telling. Have no injuries and it's a no brainer.
This would require discipline of course specifically with managing the funds. And of course, things could go "horribly wrong" as the insurance brokers want us to be scared into believing.
Is anyone doing it? How's it going?
Not a big insurer run BS laden HSA plan thats really a health plan in disguise. A bank the cash every month plan.
We have saved over $1500 a year on eye and dental vs a plan for each of the pat 4 years. Our docs love cash payment, and have extended generous cash discounts.
Yes, it would require some upfront legal and accounting costs, but moving forward it would give us more control. And yes, it would also increase the liability potential, but that's what the stop loss and or umbrella policy would be for. There are also a litany of tax advantages (until those are changed).
If you look at the monthly cost, our average yearly claims over five years, plus the MOOP for a catastrophic injury, the numbers are telling. Have no injuries and it's a no brainer.
This would require discipline of course specifically with managing the funds. And of course, things could go "horribly wrong" as the insurance brokers want us to be scared into believing.
Is anyone doing it? How's it going?
