Welcome to HFIA.

As a member of the Health and Financial Independence Association (HFIA), you are among a growing group of small and midsize employers who’ve chosen to find innovative ways to provide meaningful health benefits to your employees and their families.

HFIA was organized to provide information, education, networking opportunities, and support for employers and plan sponsors, especially those self-funding their health benefits and utilizing stop-loss insurance to manage their own financial risks.

We are here to support our association members.

Please take some time to review the Resources section below and let us know how we can better serve you.

Stop-loss insurance and self-funded plans

Health benefits play a significant role in the ability of employers to attract and retain high-performing talent. Medical and prescription drug plans continue to be a primary focus for both employers and employees, given the high importance of providing financial security when employees and their dependents need the most. The growth of self-funding medical and Rx plans has been driven largely by employers’ desires for greater access to innovative plan designs, options to enhance benefits and lower costs, and the ability to share in a favorable claims experience.

Approximately 65% of all employees receiving employer-sponsored benefits are covered under a self-funded plan. Please be sure to understand the risks associated with self-funding and what the financial responsibilities are for all parties.

The importance of stop-loss for your self-funded plan

01Assess your risk tolerance

When an employer or plan sponsor decides to self-fund their medical and Rx benefits, they become financially responsible for plan expenses. It is important to consider whether you have the risk tolerance for self-funding, the cash flow necessary to fund plan costs and the desire to actively manage your plan for better outcomes.

02Understand what’s covered

Stop-loss insurance provides financial protection to the employer for large individual claims (Specific Excess Risk), and coverage when overall claims exceed projected annual claims (Aggregate Excess Risk).

03Choose a level of protection

Many employers purchase both Specific and Aggregate Excess Risk coverage to provide broader financial protection from unexpected plan claims. Large employers with over 1,000 lives may decide to purchase only Specific Excess Risk coverage because of their financial strength, but small and midsize employers tend to purchase both, which allows for a level-funded structure and more predictable cash flow during the year.

For more information about stop-loss, please contact your broker or send us a message using the Let’s Connect form below.

Partnership and protection through Risk Solutions Insurance Company (RSIC)

As an employer member of HFIA, we are pleased to provide your group’s stop-loss policy through Risk Solutions Insurance Company (RSIC), an insurance company licensed in Vermont. This stop-loss policy means your business is protected against catastrophic claims from all plan-eligible employees.

How it Works:

Helpful resources

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