self-insured
Own risk bearer
Self-insured describes a person or organization that sets aside funds to cover potential losses rather than purchasing insurance from an outside company.
Large employers often self-insure for employee health benefits, paying claims directly: The company is self-insured, so claims go through their own benefits department.
The approach trades premium costs for direct risk exposure.
Funded by one's workplace
- retentionContinued holding or possession
- stop-lossAutomatic sell trigger
- ERISABenefits regulation abbreviation
- risk managementIdentifying and minimizing threats
employee benefits · health plan · funding · reserves · actuarial · fiduciary
Paid from personal funds
- coverage gapUninsured interval within plan
- personal liabilityOne's own legal responsibility
- asset protectionSecuring owned resources legally
- risk exposurePotential for financial loss
savings · emergency fund · deductible · financial planning · wealth management · umbrella policy · cash reserves · risk tolerance
Legal or financial obligation
- collisionForceful contact between objects
- financial responsibilityDuty to manage money wisely
- bondBinding tie or connection
- depositPlace for safekeeping
DMV · certificate · fleet · commercial vehicles · municipal · risk pool
employer-sponsored
Funded by one's workplace
- retentionContinued holding or possession
- stop-lossAutomatic sell trigger
- ERISABenefits regulation abbreviation
risk management · employee benefits · health plan · funding · reserves · actuarial · fiduciary
out-of-pocket
Paid from personal funds
- coverage gapUninsured interval within plan
- personal liabilityOne's own legal responsibility
- asset protectionSecuring owned resources legally
risk exposure · savings · emergency fund · deductible · financial planning · wealth management · umbrella policy · cash reserves · risk tolerance · medical tourism
liability
Legal or financial obligation
- collisionForceful contact between objects
- financial responsibilityDuty to manage money wisely
- bondBinding tie or connection
deposit · DMV · certificate · fleet · commercial vehicles · municipal · risk pool
- Coverage Statuscovered, enrolled, unenrolled, lapsed, expired
- liability insuranceliability coverage, general liability, personal liability, professional liability, public liability
self-insuredrisk-sharing
Distributing potential losses collectively
indemnified · covered · reinsured · guaranteed · hedged
self, insured, selves, selfish, selfless, selfhood, selfishly, selfishness, insure