A self-funded health plan is no different than any other health plan. All health plans include administrative costs, reinsurance, a network of doctors and hospitals, pharmacy benefits, and medical / Rx claims.
Employers have the ability to customize each of these components in a way that maximizes their return on healthcare dollars. What were once profits to insurance carriers become employer savings.
One of the biggest misconceptions about self-funding is that it carries more risk than a fully-insured plan. This additional risk can be mitigated or removed altogether with proper reinsurance planning.
Medical and Rx claims will drive the majority of employer health plan costs. Because employers own their own data in a self-funded world, they have visibility into what’s actually driving healthcare costs. Employers can then implement cost reduction strategies based on their specific needs.
To quote your benefits, we need to know who your employees are, what benefits you currently offer, and what you’re paying. To do this, we need an employee census, a copy of your benefit summaries, and a copy of your insurance bills.
Yes, you can set up automatic bill payments through our online banking platform. Simply enroll in our bill pay service, enter the payee information, and schedule recurring payments for your bills.
Yes. If you select us as your broker, you have a direct line to access our experience and expertise in dealing with employees. Whether you’re dealing with a tricky termination, employee discipline, leave of absence, or drafting a new policy, we are here to provide guidance (though not legal representation). If you need more robust HR help, we also offer outsourced HR consulting.
Yes. Our account management team has nearly a century of combined experience in these matters. This, in combination with longstanding relationships with our carrier partners, allows us to resolve issues and save time for you and your staff.
Yes. We have experience with most of the benefit management systems on the market. We also have trusted partnerships with expert consultants in this area to help you make the right choice when it comes to benefits technology.
Sí, hablamos español.
