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Self-Funded Health Insurance

At Nova, we pride ourselves on dedicated stewardship. We are budget managers for our clients and care navigators for their members. A great benefit plan starts with expert support, which is why we strive to create a positive member experience that exceeds our clients’ expectations.

There's More to Self-Funded Health Plans Than Saving on Administrative Costs

We aren’t just another third-party administrator — we’re part of your crew.

We handle the administrative services you’d expect from a TPA such as claims processing and employee benefits management, but we value building meaningful partnerships with brokers and clients, serving as a steward to manage financial risk and improve health trends.

We share your goals: to provide strong, flexible benefit plan options and apply cost management strategies to take control of medical claims spend and improve health outcomes.

And, we don’t let you go it alone.

We partner with best-in-class vendors to help our clients maximize their plan performance. We'll help you manage health care costs and employee contributions . 

Why Choose Self-Funded Plans?

As health care costs continue to rise, employers are evaluating how to provide quality employee benefits while also managing cost trends. Self-insured plans allow your company the flexibility to design a plan that fits your unique needs and the opportunity to take greater control of your health care dollars. Nova works with third-party stop loss carriers to protect plan sponsors from unpredictable high-cost claimant exposure.

How do Self-Funded Plans Work?

There is a spectrum of choice in self-funding. Your situation is unique - your health plan solution should be too. In a self-funded arrangement, employers customize their plan designs to meet the specific health care needs of their employees. This eliminates a "one-size-fits-all" approach to plan management and provides increased flexibillity and control. Still on the fence about making a swtich to self-funding? Make the process work for you and be sure you're asking third-party administrators the right questions...we can help. Check this out! 

Funding Options & Financial Risk

With fully-insured employee benefit plans, employers pay a predetermined premium for each enrollee on a monthly basis; that premium is paid whether or not enrollees actually receive services. With self-funded plans, an employer applies a pay-as-you-go approach, paying claims expenses as they are incurred by members on an established schedule. Most plan sponsors purchase stop loss insurance to mitigate risk. With Nova's level-funding solution, you have the flexibility to have 100 percent of claims costs returned to you. Want to learn more about the funding process? Take a peek at this infographic. 

Information Management

Beyond administrative services, comprehensive and transparent utilization data allows you to make informed decisions and plan changes to recognize savings sooner.

Customized Plan Design

Tailored plans that meet your needs allow for modifications as your employees’ needs change, even outside of your renewal cycle.


Build a consistent plan for employees nationwide avoiding niche requirements based on state mandates.

Cut Costs

In a self-funded arrangement, employers can improve benefits, decrease costs, and keep what is important without raising employee contributions.