What is self-insured company in SAP CRM-CEC - Collaborative E-Care Management?

SAP Term: self-insured company

• Component: CRM-CEC

• Component Name: Collaborative E-Care Management

• Description: An employer that pays the health claims of its employees, as opposed to purchasing health insurance.

Smart SAP Assistant

• Key Concepts: 
  A self-insured company is one that assumes the financial risk of providing health care benefits to its employees. This means that the company pays for the medical expenses of its employees directly, rather than purchasing an insurance policy from an outside provider. The company is responsible for managing the costs associated with providing health care benefits, including setting premiums, negotiating contracts with providers, and managing claims. 
  
  How to use it: 
  SAP CRM-CEC Collaborative E-Care Management provides a comprehensive solution for self-insured companies to manage their health care costs. The solution includes features such as automated claims processing, cost containment strategies, and analytics to help companies better understand their health care costs. Additionally, the solution provides tools to help companies negotiate better contracts with providers and manage their risk more effectively. 
  
  Tips & Tricks: 
  When using SAP CRM-CEC Collaborative E-Care Management, it is important to ensure that all of the data related to the company’s health care costs is accurate and up-to-date. This will help ensure that the company is able to make informed decisions about its health care costs and manage its risk more effectively. Additionally, it is important to regularly review the contracts with providers to ensure that they are still providing the best value for the company’s health care costs. 
  
  Related Information: 
  SAP CRM-CEC Collaborative E-Care Management is part of SAP’s suite of solutions for managing employee benefits. Other solutions in this suite include SAP Benefits Administration and SAP Health Care Cost Management. Additionally, SAP offers a range of services to help companies manage their health care costs more effectively, such as consulting services and training programs.