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Highest in the survey was more than 3,000 per capita per year. Many of the biggest companies (with 1,000 or more employees) have also shown that they set up self-insured systems, generally known as health care trust (HCT) systems. As part of these agreements, the Company will act as its own insurance provider and assume the risk associated with financing uncertain obligations for the health care expenses of its members.
Richard Saunders, Senior Vice President at Healix Group's Corporate Affairs, said that if the loss is lower, the insurance company can retain all the money instead of the insurance company paying the profits. A further advantage is that health funds are not insurance and therefore do not charge an insurance premiums (IPT), which is expected to rise from 5% to 6% in January 2011.
But the IRS also showed that large non-self insured companies can take advantage of their large scale by being able to bargain for PMI privileges that are not available to smaller health system companies. Average per capita pay was almost 9% lower for the biggest workers than for the smallest: 495 pounds against 543 pounds.
A further possibility for large companies is a risk-sharing insurance policy in which the company pays part of the damage costs. Usually this is coupled with a stop-loss coverage to reduce the cost of losses each year. A way for workplaces that cannot pay for PMI systems is to bargain with PMI vendors to provide employees with health insurance at a reduced rate.
Employees then issue the complete invoice, but still receive health insurance at a lower price.