In a self-funded plan, the employer assumes the claims risk. There is no insurance company involved. The employer’s liability is limited by a reinsurance company, who will reimburse claims that exceed a pre-set limit.
Most self-funded plans are subject to federal laws, including the Health Insurance Portability and Accountability Act (HIPAA), and the Employee Retirement Income Security Act (ERISA). Wells Fargo Third Party Administrators operates in full compliance with all applicable laws and regulations.
Our self-funded plans include: