Self Insurance Certified Professional®
- Have a higher level of understanding and knowledge of self funded plans
- Possess the training and knowledge to successfully implement and manage a self funded plan
- Understand the timeline of implementing different aspects of self funded plans
- Demonstrate that you are up to date with current best practices and rules in regards to self funded plans on an ongoing basis through continuing education courses required for recertification
- Possess the qualifications and abilities for job promotion and career enhancement
What you will learn to become a Self Insurance Certified Professional®:
- What types of benefits should be self funded
- The advantages and disadvantages/risks of self funding
- How aggregate and specific stop loss/reinsurance works
- How cash flow works and the control of reserves – return of investment on reserves
- Control and flexibility in plan design, plan document creation & excluded benefits
- Compliance and legal issues
- Claims experience
- Claim utilization and cost controls
- Transparency issues with costs and vendors/service providers
- Provider networks
- Managing a prescription drug program
- How to choose a TPA, Reinsurer, PBM and other vendors/service providers
- And more…
Benefits for Employers/Corporations:
By requiring or covering the expense of certification for your staff, you are ensuring that your staff has the most updated policies, rules and regulations and that current best practices are implemented in regards to self funded employee benefits plans and compliance. Self Insurance Certified Professional® staff can help your organization maintain a competitive edge.
The Self Insurance Certified Professional ® program is provided to professionals who:
- Pass a challenging 100 question exam
- Satisfy educational requirements
- Update their self funding specialty credentials through continuing education courses required in order to maintain Self Insurance Certified Professional ® designation
Recertification Policy:
- Self Insurance Certified Professional ® certification expires 2 years after date of issue
- Recertification fee of $500 after 2 years
- 10 Total Hours of continuing education required per (2 year) recertification period
- Annual fee of $100 per year to maintain certification and gain access to online continuing education resources