A self-funded plan is one in which employers finance actual employee health claims as they are presented, rather than paying a preset premium to an insurance carrier for a fully insured plan. This will lower expenses and improve cash flow since the employer only pays for healthcare their employees use. When an employer chooses to self-fund, it affords them the flexibility to customize their benefits to address the unique needs of plan participants—their employees.

Any risk you assume as a self-funded employer is covered through stop-loss insurance. Stop-loss insurance protects employers against potential catastrophic claims or aggregate claims that may exceed employers' expectations. And if employers don’t reach their expected amount in actual claims, they get that surplus back in most models.

By self-funding with Sola, employers unlock long-term visibility into their claims data. This means that over time, employers can more accurately forecast claim spend, lower costs, and tailor their benefits plan further—so it’s as cost-effective and accessible as possible. Aside from more accurate forecasting, our team of experts work diligently on claims mitigation, auditing and healthcare navigation—guiding your employees toward high-quality, cost-effective care—so employers can avoid high-cost claims from the start.

Right now, a third of Americans forgo medicine as prescribed because it’s too expensive—and 46% of insured adults struggle to afford out-of-pocket costs. While disruption always occurs with change, change is necessary to control costs and improve experience for employers and employees.

Sola works to make self-funding as seamless as possible and bring powerful savings within reach. While employee impact varies based on plan and network changes—our plans are built to make their lives easier. Once your employees get used to their new plans, which include lower-cost or $0-dollar deductibles, co-pays and generic drugs, you’ll be glad you made the switch.

No! Sola doesn’t rely solely on provider networks, so employees can continue to see any provider they choose. But if employees follow the guidance of our navigators, they’ll get access to zero-dollar care.

Yes! Self-funding allows smaller employers to reap the same powerful savings and competitive benefits packages their larger counterparts have enjoyed for years. If you’re a smaller employee, who has tried to go self-funded, but faced underwriting obstacles, we can help. We work with a wide variety of underwriters and will do everything in our power to you on the path to self-funded. If your business isn’t right for self-funding, we’ll be honest and upfront.