As a therapist, you thrive on working directly with patients to improve their health and functioning. But there’s another side of your practice that can often feel less than fulfilling. No one enjoys dealing with complicated insurance claims, paperwork, hassles, and delays.

What if you could provide services to your clients, working directly with them and their employers, but without all the red tape? We have some good news for you: By working with self-insured companies, you can enjoy the fulfilling parts of your career without the headache of chasing down payments.

What is “self-insured”? According to Healthcare.gov, self-insured refers to a, “type of plan usually present in larger companies (in which) the employer itself collects premiums and takes on the responsibility of paying employees’ and dependents’ medical claims.” Some Employers handle enrollment, claims processing, and provider networks themselves, while others contract with third parties to manage those tasks.

The number of workers enrolled in a self-insured plan varies by state, with a low of 31.4 percent in Hawaii, to 72.7 percent in North Carolina (as of 2018).

Why self-insurance? Historically, larger employers have been more likely to self-insure, but now the trend is shifting toward mid-sized and smaller companies as well. Under the Affordable Care Act, these plans are exempt from requirements for minimum essential coverage and community-based premiums.

Other reasons for self-insuring include:

• Greater control over the healthcare plan’s design
• Plans are customizable to fit the needs of the workforce
• Employers can contract with providers of their choice, that they deem best suited at fitting their employees’ healthcare needs
• Not subject to state insurance regulations
• Elimination of certain taxes
• Employer retains control over health plan reserves (earning interest on premiums paid)

How therapists can perfectly pair with self-insurance plans. Because Employers’ self-insurance is arranged around the unique healthcare needs of their particular workforce, therapists are perfectly positioned to contract directly with the employer to provide for those needs.

Within the context of occupational health, a therapist could reach out to each Employer, demonstrate how Prior-to-Hire screenings, tailored on-boarding processes and prevention programs can keep their workforce healthy, and point toward monetary savings for the company. With insurance companies out of the way, providers can work directly with companies to provide exactly the services that are necessary and valuable within that industry – nothing more, and nothing less.

Of course, the key to these negotiations is DATA! Employers who have chosen to self-insure did so because of the cost savings and flexibility. It falls on you, the therapist, to prove to them that your services dovetail perfectly with their goals.

Lucky for you, we have already developed a system that helps you to gather the data you need, and to develop positive, long-term, and mutually beneficial relationships with employers. Contact us for more information on the KEY Method, and we’ll show you how you can contract with employers, doing what you love while integrating yourself as a part of their team.