This is a public service announcement. If your company self-insures your medical benefits plan, you and your company are paying too much. Over 65% of large and medium size organizations opt for self-insurance because they think it saves them money. This couldn’t be further from the truth. ALL insurance companies that market medical plans negotiate large discounts (30% to 40%) with doctors and hospitals in exchange for sending them increased patient loads. In other words, hospitals and doctor get more volume and surrender some of their fees for that increased traffic. Unfortunately, insurance companies DO NOT give those discounted MD and hospital fees to self-insured clients. They only include the discounts when they themselves are covering the risk. We do not sell insurance so we have no ulterior motive for telling you this fact. We do suggest you search the internet for many recent articles that prove our comments to be true.
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