Definition of Self-funding:
A type of health care plan that requires the employer to pay for actual claims and not anticipated claims. Basically, employers only have to pay costs when an employee receives medical care and files a claim. Other insurance plans require employers to pay a pre-determined monthly fee regardless of if an employee files a claim. Many employers use this form of health care insurance as a way to regulate rising health costs.
Assuming full responsibility for funding a project.
Provide the money for (a project or course of action) oneself.
How to use Self-funding in a sentence?
- He was a billionaire who could self-fund his campaign.
Meaning of Self-funding & Self-funding Definition