Self-Insured Group Health Plans Law and Legal Definition
These are plans set up by employers who set aside funds to pay their employees’ health claims. These plans appear to be fully insured plans since these plans are often run by insurance companies for employers. Employers must disclose in an employee’s benefits information whether an insurer is responsible for funding, or for only administering the plan. If the insurer is only administering the plan, it is self-insured. Self-insured plans are regulated by the U.S. Department of Labor.