is selffunded insurance bad for employees

When it comes to health insurance, many employees are finding themselves confused and frustrated with the options available to them. While traditional health insurance plans have been the norm for decades, there’s a new trend emerging in the form of self-funded insurance. But is self-funded insurance bad for employees? It’s an important question that deserves a closer look.

At first glance, the idea of self-funded insurance may seem appealing. After all, it offers the potential for lower premiums and greater control over benefits. However, there are some potentially serious downsides to consider. For employees, these can include higher out-of-pocket expenses, limited access to healthcare providers, and less protection against catastrophic healthcare events.

To make matters even more confusing, the rules and regulations governing self-funded insurance can vary widely depending on the state and employer. With so much uncertainty and risk involved, it’s no wonder that many people are hesitant to embrace this new approach to health insurance. So, if you’re considering self-funded insurance, it’s important to do your homework and fully understand the potential advantages and drawbacks before making a decision.