Raleigh office manager Karen Sargent was recently quoted in an article in the American Bar Association Journal about a growing trend in law firm employee benefits: self-insurance. The article, titled "More law firms find savings, stability through self-insurance," discusses the increase in self-funded and self-insured health care plans among law firms in light of new regulations and higher premiums brought on by the Affordable Care Act.
Sargent relays Brooks Pierce's decision to self-insure through the NC Bar Association Health Benefit Trust as a reaction to a 26% jump in premiums. Health care renewals at that time had become "a roller-coaster ride," she says, but notes that joining the Bar Association's plan has significantly lowered yearly premium increases for Brooks Pierce employees.
