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Employee Month
We pay $ 444 per employee per month for insurance-380 employees, would self-insurance possibly save us money?

I realize we would have administrative costs, and I am not sure of how much our combined claims are per year, but they must be lower then what we are paying or the insurance company would raise rates very quickly. But our company cost is $ 444 per employee and $62 from the employee per bi-weekly pay period.
Is self insurance an option? Thanks
I do know, we would have “catastrophic Insurance” for any claims about a certain threshold.
And currently we have $ 50,000 term insurance per employee…

The following article lists a lot of the pro’s although almost none of the con’s of self-insuring your health plan. However, it does give you a lot of information about how to go about it. It’s interesting, easy to read and explains many of the factors involved.

http://www.selfinsuranceconference.com/employers-guide.php

You will need to do a lot of due diligence to find the correct TPA and stop-loss insurance company. I don’t know how much time you have to devote to that, but it may be worth your while.