Every other year for the past 10 years, Stevens & Lee‘s employee benefits lawyers have asked actuaries to look at the firm’s demographics and medical insurance claims to see if it made more sense to move from a fully insured plan to a self-insured plan. And for 2011, the time was finally right.
As of Jan. 1, the firm is now self-insured when it comes to its medical benefits for all lawyers and staff. Stevens & Lee has always touted its extensive medical and retirement benefits that it offers equally to attorneys and employees. Under the fully insured plan, anyone who worked at Stevens & Lee only had to pay a minor co-pay for office visits and a minor deductible. The firm took care of all of the premiums paid to the insurance company that was then responsible for paying out any claims for medical expenses by any of the firm’s lawyers, staff or their families.
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