self-insurance


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self-in·sur·ance

(sĕlf′ĭn-sho͝or′əns)
n.
Insurance of oneself or one's possessions against possible loss by regularly setting aside funds.

self′-in·sure′ v.
self′-in·sured′ adj.
self′-in·sur′er n.

self-insurance

n
(Insurance) the practice of insuring oneself or one's property by accumulating a reserve out of one's income or funds rather than by purchase of an insurance policy

self′-insur′ance



n.
insurance of one's property or interests by setting aside funds to cover possible loss.
[1895–1900]
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.self-insurance - insuring yourself by setting aside money to cover possible losses rather than by purchasing an insurance policy
insurance - promise of reimbursement in the case of loss; paid to people or companies so concerned about hazards that they have made prepayments to an insurance company
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References in periodicals archive ?
California currently has more than 3,500 private employers protecting more than 2.3 million workers representing a total payroll of nearly USD 100 billion through self-insurance workers' compensation plans.
California currently has more than 3,500 private employers protecting more than 2.3 million workers representing a total payroll of nearly $100 billion through self-insurance workers' compensation plans.
Whether or not the contracting authority actually continues the self-insurance with a private insurance for the wga depends on whether the self-insurance is a (financially) more attractive option than placing the wga financing with the uwv or taking it in-house.
Self-insurance offers a way out of some of the taxes and fees associated with the ACA, and it also allows businesses to only pay for the cost of care that is used.
There has, therefore, been considerable speculation that the ACA's adjusted community rating regulations may result in an increase in selective self-insurance among employers in the small group market with relatively healthier workers and, in turn, concern about the possible implications for adverse selection into the fully insured small group market with resulting higher premiums (Lucia, Monahan, and Corlette, 2013; Weaver and Mathews, 2013).
Self-insuring "offers an option for employers to provide benefits to their workers that they might not otherwise be able to afford," said Mike Ferguson, president and CEO of the Self-Insurance Institute of America.
Members of the House today voted 400-16 for the Self-Insurance Protection Act bill.
The Self-Insurance Institute of America hopes a new presidential administration will help it get the third version of a stop-loss defense measure signed into law.
SELF-INSURANCE FOR MEDICAL BENEFITS is sometimes seen as a step into the unknown.
Dan Gibson: 'A lot of groups are going into self-insurance. We worry that some may be going into it without a lot of knowledge'.