Self-Funding Your Prescription Drug Plan
February 1, 2019
Unlike on the mainland, the Hawaii Prepaid Health Care Act limits what Hawaii’s employers can do to control health insurance costs. Administrative rules make it difficult for employers to change health plan benefits or opt for self-insurance. However, prescription drug plans, which is are the largest component of health premiums, after medical, falls outside of this law. As a result, many employers are wisely considering self-insuring their prescription drug programs—a move that can not only significantly reduce costs, but allow increased flexibility in providing benefits…
Contact an Employee Benefits Consultant
For additional information about self-funding your prescription drug plan, contact Bonnie Pang (firstname.lastname@example.org) or Jeremy Imai (email@example.com) at Atlas Benefit Consulting.