Every company is unique, and so are the people who work for them. Today, employers have the option to self-fund, which means employers pay for their employees’ medical bills directly while a third-party administrator (TPA) typically administers the plan. This gives employers the unique ability to control costs and maximize benefits.
Unlike self-funded plans, a fully insured health insurance policy consists of employers paying an annual premium to an insurance company that assumes all financial risks (regardless of whether or not the employees use the plan or services).
Self-funded employers rely on Pinnacle for facilitating the claims processing and payments, the healthcare network, financial reporting, and other various benefits administration services on their behalf.