Stephanie Hooper owns a medium-sized food manufacturing firm called Hoop's Soups. The company provides its employees with a group insurance plan through Southsun Life Insurance Company. Southsun sets the premiums for the group plan based on the anticipated cost of the claims are and bears the full financial responsibility for paying all claims. The insurance company will benefit if the cost of claims is less than what they receive in premiums. What type of funding formula do Hoop's Soups utilize? 

a) refund accounting 

b) administrative services only 

c) non-refund accounting 

d) non-contributory

Answer rating: 100% (QA)

Stephanie Hooper owns a medium sized food manufacturing firm called Hoops Soups The company provides ... View the full answer