Self-Funded Health Insurance Offered by Black Owned Payroll Company, Next Generation Payrollby DAVIS BROWN PRC Agency
Introducing: A realistic approach to employee health benefits
Now, you can gain control of your health care expenses while providing quality benefits to your employees. By combining the cost savings of self-funding with the stability of more traditional plans, our Self-Funded Insurance Program gives you the simplicity and cost savings you’re looking for without the hassle of administering the program yourself. National General benefit Solutions are a national leader in the self-funded health insurance space. Our teams of experienced professionals are ready to provide you and your agent with group market expertise, immediate access to support, quick resolution of issues, and hands-on help at time of reissue.
Simple. Safe. Savings.
In the Past, self funded health insurance used to be a concept only available to large employers. Not anymore. Business owners like you enjoy the advantages of self funding. And now, with our Self-Funded Program, you get to experience those advantages without taking on added risk. It’s an easy way for you to lower your costs while providing quality health care benefits for employees.
Key Advantages of a Self-Funded Health Insurance Program:
Predictable monthly payment
Your monthly payment is determined upfront and guaranteed not to increase for a full year as long as there are no changes to your group’s benefits or enrollment
Plan administration and account management
Payments of claims, customer service and reporting is all done for you, leaving you to focus on your business
All employer-established benefit plans are minimum essential coverage
Preventive services are paid at 100% when received from in-network providers, as recommended by the Affordable Care Act
Are you overpaying for group health care benefits?
Where do your premium dollars really go? With fully insured health plans, your entire premium is paid to the insurance company. You don’t have any control over how that money is spent. You won’t see any of those premium dollars again, even in years when your group’s claims are less than expected.
Our Self-Funded Insurance Program is different. Some of your monthly payment is used to run the daily administration of your plan, but portions of it are also used to pay your stop-loss insurance premium and to build your claims account. In years when claims are lower than expected, a portion of the difference between your group’s anticipated and actual claims is credited back to you — and that adds up to significant savings.
We make it easy for you to put a self-funded health benefit plan to work for your business
Here's how it works, for your everyday convenience, this plan behaves just like a more traditional, fully insured health benefit plan. You provide your level, monthly payment, and we handle the details. The difference lies in where your premium dollars go. We manage your program to make sure you get the savings and simplicity you need by splitting your premium among the program’s three components.
The Self-Funded Program's Three Components
A third-party administrator handles the day-to-day functions of the program. Our third-party administrators will:
Manage claims payments
Provide reporting to help manage costs
Handle your group members’ customer service needs
Protects your finances from higher-than-expected claims
Helps you limit your business’s financial exposure
Money used to pay claims incurred during the coverage period. Your claims ac
Created on Jan 14th 2021 11:58. Viewed 366 times.