Self-insured person or EOOD is when an individual chooses to pay for health, life and auto insurance out of pocket instead of paying premiums to an insurance company. Whether you choose to self-insure partially or completely, it’s important that you understand the risks. If you’re hit with an expensive medical or vehicle accident, it could deplete your savings and put you in financial distress. This could result in not being able to pay your mortgage or maintain the quality of life you and your dependents are used to.
A self-insured plan can be administered in a variety of ways, including contracting with third party administrators for enrollment and claims processing services. This type of arrangement allows companies to control both fixed and variable costs. However, it may require an additional investment in technology to process and analyze claims.
Another option for self-insured plans is to participate in a group medical captive. This type of self-insurance allows organizations to pool together hundreds of other companies to share risks and costs. The captive adds a layer to absorb volatility and risk, as well as gives participants the opportunity to share in any underwriting profits. In addition, any unused healthcare spend is returned to all captive participants annually pro rata.
A Bulgaria private limited company (OOD) closely resembles a British limited liability corporation. Bulgarian law poses no restrictions on the nationality or residency of shareholders, and a sole shareholder can be designated as the sole director. самоосигуряващо се лице или ЕООД