Expert Employer Health Insurance Plans

Employers can choose from fully insured, level-funded, self-funded, and reference-based pricing arrangements, along with reimbursement strategies such as HRAs, HSAs, and ICHRAs. The right structure depends on workforce size, budget goals, risk tolerance, employee needs, and administrative capacity. Franklin Benefits Group compares these approaches and helps employers understand the tradeoffs before selecting a plan.

With a fully insured plan, an employer pays a set premium and the carrier assumes responsibility for covered claims. With a self-funded plan, the employer assumes financial responsibility for employee claims, typically with stop-loss insurance for large claims. Self-funding can offer plan-design flexibility and reduced insurance overhead, but it requires careful risk management and administration.

Level funding is a form of self-funding designed to provide predictable monthly costs. The employer pays a fixed amount throughout the plan year that generally covers expected claims, administration, and stop-loss protection. If claims are lower than expected, a surplus may be returned at year-end. It can suit employers seeking more cost transparency without fully open-ended claim exposure.

Yes. Small businesses can offer group health coverage or explore alternatives such as ICHRAs, depending on their workforce and benefit objectives. Options may include traditional fully insured plans, high-deductible plans paired with HSAs, or reimbursement arrangements. A benefits advisor can help evaluate contribution approaches, employee eligibility, carrier options, and the compliance requirements that apply to the chosen arrangement.

An Individual Coverage Health Reimbursement Arrangement, or ICHRA, lets an employer reimburse eligible employees for individual health insurance premiums and qualified medical expenses. Employers set reimbursement budgets and may offer different amounts to permitted employee classes, subject to applicable rules. ICHRAs can be useful for organizations with part-time, seasonal, geographically dispersed, or otherwise diverse workforces.

Yes, but each arrangement has specific requirements. An HSA must be paired with a qualified high-deductible health plan and is owned by the employee. An HRA is employer-owned and can reimburse all or part of an eligible employee’s deductible or qualified expenses. Plan design must coordinate coverage, contributions, eligibility, notices, and applicable tax and compliance rules.

A thorough review should begin well before renewal so there is time to analyze claims experience, contributions, benefit usage, workforce changes, and available carrier options. Employers should also revisit their strategy after significant growth, acquisitions, changes in employee locations, or rising costs. Franklin Benefits Group provides market analysis, plan comparisons, renewal management, and ongoing advisory support during the year.

Yes. Employers can generally appoint a new broker through a Broker of Record letter during the plan year without changing their existing health plan or waiting for renewal. This allows Franklin Benefits Group to conduct an in-depth market analysis, obtain quotes from multiple carriers, review plan strategy, and provide ongoing service while your current coverage remains in place.