Call Us 330-854-6637 ☰ ˟
Manage Policy File a Claim
Logo
330-854-6637
  • Home
  • Our Agency
    • AboutImage of right arrow
      • About DiStefano Insurance
      • About Bendetta Insurance
      • About Ungashick Insurance
      • About Petit Insurance
      • About United Group
      • Our Locations
    • What Our Clients Are Saying
    • Our Providers
  • Products
    • Personal InsuranceImage of right arrow
      • Auto InsuranceImage of right arrow
        • Accident Forgiveness
        • Liability Coverage
        • Collision Coverage
        • Comprehensive Coverage
        • Diminishing Deductible
        • Minor Violation Forgiveness
        • Roadside Assistance
        • Specialty Auto Insurance
        • 24-Hour Customer Service
        • Towing
        • Rental Reimbursement
        • Personal Injury Protection (PIP)
        • Medical Payments Coverage
        • Uninsured & Underinsured Motorist Coverage
      • Home InsuranceImage of right arrow
        • Property Insurance
        • Renters Insurance
        • Homeowners Liability
        • Condo Insurance
        • Mobile Home Insurance
        • Scheduled Property Insurance
        • Landlords Insurance
        • In-Home Business Insurance
      • Other Personal InsuranceImage of right arrow
        • Identity Theft
        • Personal Umbrella Insurance
        • Data Backup
      • Farm InsuranceImage of right arrow
        • Crop Insurance
        • Farm Owners Insurance
        • Farm Livestock Insurance
        • Equine Insurance
        • Farm Equipment Insurance
        • Farm Dwelling Insurance
        • Farm Structures Insurance
        • Farm Auto Insurance
        • Farm Umbrella Insurance
        • Farm Liability Insurance
      • Life InsuranceImage of right arrow
        • Individual Life Insurance
        • Group Life Insurance
        • Long-Term Care Insurance
        • Mortgage Protection Insurance
        • Disability Insurance
        • Second-To-Die Policy
        • Key Person (Key Men) Insurance
      • Health InsuranceImage of right arrow
        • Individual & Family Health Insurance
        • Group Health Insurance
        • Dental Coverage
        • Vision Coverage
        • Long-Term Care Insurance
        • Temporary Health Insurance
        • Supplemental Insurance
        • Medicare Insurance
        • Disability Insurance
        • Medical Expense Insurance
        • Child Health Insurance
        • Travel Health Insurance
        • Prescription Insurance
        • HSAs
      • Recreational VehicleImage of right arrow
        • Boat Insurance
        • Motorcycle Insurance
        • Motorhome Insurance
        • ATV Insurance
        • Snowmobile Insurance
      • Financial ServicesImage of right arrow
        • 401K
        • Annuities
        • Financial Planning
        • Retirement Plans
        • Mutual Funds
        • Pension Plans
        • Profit Sharing Plans
        • Traditional & Roth IRAs
      • Additional Insurance ServicesImage of right arrow
        • Special Event Insurance
        • Other Services
        • Wedding Insurance and Special Event Insurance
    • Commercial InsuranceImage of right arrow
      • Coverage for Specific IndustriesImage of right arrow
        • Accounting Firm Insurance
        • Alarm Contractors Insurance
        • Insurance for Arborists
        • Bar Insurance
        • Box Truck Insurance
        • Builders Risk Insurance
        • Car Dealership Insurance
        • Cargo Insurance and Freight Insurance
        • Catering Insurance
        • Cleaning Business Insurance
        • Condo Association Insurance
        • Construction Insurance
        • Consulting Firm Insurance
        • Contractors Insurance
        • Specialty Trade Contractors Insurance
        • Craft Brewery Insurance
        • Dental Practice Insurance
        • Dump Truck Insurance
        • Educational Facility Insurance
        • Financial Institution Insurance
        • Food Truck Insurance
        • Fleet Insurance
        • Handyman Insurance
        • HVAC Insurance
        • Garage Insurance
        • Healthcare Facility Insurance
        • Healthcare Practice Insurance
        • Law Firm Insurance
        • Life Science Insurance
        • Limousine Services Insurance
        • Liquor Liability Insurance
        • Livestock Insurance
        • Maintenance Contractors Insurance
        • Manufacturing Insurance
        • Maritime Employers Insurance
        • Media & Advertising Insurance
        • Medical Malpractice Insurance
        • Minibus Insurance
        • Non Profit Insurance
        • Nursing Home Insurance
        • Nursing Insurance
        • Orthotics & Prosthetics Insurance
        • Personal Trainer Insurance
        • Pharmacist Insurance
        • Pool & Spa Insurance
        • Printers & Publishers Insurance
        • Railroad Contractors Insurance
        • Real Estate Businesses Insurance
        • Retail Insurance
        • School Bus Contractors Insurance
        • Scrap Metal Insurance
        • Security Guards Insurance
        • Self-Storage Insurance
        • Septic Contractors Insurance
        • Snow Plow Insurance
        • Specialized Truck Equipment Insurance
        • Technology Services Insurance
        • Tractor Insurance
        • Tow Trucks Insurance
        • Uber Insurance
        • Water Well Drillers Insurance
        • Veterinary Insurance
      • Coverage for your BusinessImage of right arrow
        • Bonds
        • Business Catastrophe Insurance
        • Business Owners Policy (BOP)
        • Commercial Auto Insurance
        • Commercial General Liability
        • Commercial Property Insurance
        • Commercial Real Estate Insurance
        • Commercial Umbrella Insurance
        • Cyber Liability Insurance
        • Crime Insurance
        • Equipment Insurance
        • Errors and Omissions Insurance
        • Extortion Insurance
        • Fidelity Bonds
        • Leave Management
        • Loss Control Insurance
        • Inland Marine Insurance
        • Kidnapping Insurance
        • Marine Insurance
        • Mechanical Breakdown Insurance
        • Office Insurance
        • Product Liability Insurance
        • Professional Liability
        • Ransom Insurance
        • Shipping Insurance
        • Small Business Insurance
        • Small Business Liability Insurance
        • Storage Insurance
        • Surety Bonds
        • Technology Insurance
        • Trailer Insurance
        • Transportation Insurance
        • Trucking Insurance and Semi Truck Insurance
        • Workers Compensation
        • Van Insurance
      • Coverage for your EmployeesImage of right arrow
        • Disability Insurance
        • Employer-Sponsored Retirement
        • EPLI Coverage
        • Group Benefits
        • Group Disability Insurance
        • Group Health Insurance
        • Individual Life Insurance
        • Retiree Health Coverage
        • Small Business Retirement Plans
        • Voluntary Benefits
    • Employee Medical BenefitsImage of right arrow
      • Fully Insured Plans
      • Self-Funding Option
      • Cost-Containment Strategies
      • Claims Analysis
  • Get A Quote
  • Contact
Home > Products > Fully Insured Plans

Fully Insured Plans in Canal Fulton, OH, Canton, OH, North Canton, OH, Massillon, OH and the Surrounding Areas.


If you’re looking to offer a group health plan to your employees, you’ve probably heard of the terms “fully insured” and “self-insured.” These terms describe the two main types of health insurance plan designs that employers can offer their employees. In some cases, these plans may be referred to as “fully funded” or “self-funded” plans, respectively. A plan design that combines the two is known as a level-funded plan. 

The main difference between the plan types deals with who is funding the plan (i.e., the carrier or the company), how claims are paid out, and additional fees.  

Distefano Insurance Services, Inc. is your guide into determining which plan-funding mechanism will best suit the needs of your employees and your bottom line. Contact us today at 330.854.6637 to get started.  

What Are Fully Insured Health Plans? 

A fully insured health plan is what comes to mind when many people think of group health plans. With a fully insured health plan: 

  • The company pays a premium to the insurance carrier.

  • The premium rates are typically fixed for a year, based on the number of employees enrolled in the plan each month.

  • The monthly premium typically only changes during the year if the number of enrolled employees in the plan changes.

  • The insurance carrier collects the premiums and pays the health care claims based on the coverage benefits outlined in the purchased policy.

  • The covered individuals (i.e., employees and dependents) are responsible for paying any deductible amounts or co-payments required for covered services under the policy.


Benefits of Fully Insured Plans 


Fully insured plans, while typically more expensive, often offer employers increased protection from high claims costs. Although employers may not have complete control and customization ability of a fully insured plan design, the predictability of monthly expenses can help employers provide quality health insurance to employees.  

Differences Between a Fully Insured and Self-insured Plan 

Unlike a fully insured health plan, self-insured plans can be more cost-effective for certain employers but often involve more risks. Employers operate their own health plan with a self-insured plan instead of purchasing a fully insured plan from an insurance carrier. Employers choose to self-insure partly because it allows them to save the profit margin that an insurance company adds to its premium for a fully insured plan. However, self-insuring can expose the company to a much larger risk if more claims than expected must be paid.   

Which Is Right for You? 

Determining whether a fully insured, self-insured or level-funded plan is right for you can be a daunting task. Fortunately, we’re here to help. Contact Distefano Insurance Services, Inc. today so that we can help you evaluate your employee benefits needs and find the health insurance solution that’s right for you and your employees.  
Facebook
Google+
LinkedIn
Get Directions
Contact Us Today
Speak to an Agent
Resources
Products
Payment & Claims
Our Carriers
About Us
Refer A Friend
Our Carriers
Blog
Contact Us
Contact us 2036 Locust St S
Canal Fulton, OH 44614

Main Office: 330-854-6637
Toll Free: 800-468-9558
Fax: 330-854-2481
info@disagency.com
© Copyright. All rights reserved. Powered by Insurance Website Builder.