Over the past few months I have been working on our medical, dental and vision insurance plans for Fellowship. We have hired a wonderful consultant from Northwestern Mutual to compare Self-Funded vs. Fully Funded medical plans. This process has truly been an eye opening experience. We hear so often from our media outlets, our politicians and so many others that the American insurance system is broke. Well, in some ways I think that is true, but in some of my research I have discovered something fascinating that I had never thought about. Technology. Technology is a huge reason why our insurance rates are sky rocketing. You might be thinking what is he talking about! Technology, technology is saving lives and advancing medicine at a record pace. Well, yes you are right, and that is a huge problem when it comes to the cost. Because of technology people are living longer, requiring more medical expense, more drugs, more expensive medical care. Don't get me wrong, the result is a great thing...but someone has to pay for it. Know, this is not the only problem, but it was truly fascinating to me becasue I had never thought about it, or heard about it.
Back to my true point. After research and becoming enlighten I highly recommend taking a closer look at self-funded insurance plans. The benefits to your church or organization could be huge. Self-funded insurance is not for everyone, however, I recommend doing your research and seeing for yourself.