We’ve got the perfect group plan for your business, - Saving time, money and headaches.
It’s great to have choices and that’s exactly what EBS gives you – along with the personal care and attention you deserve. We don’t take a “cookie cutter” approach to your health insurance needs. Instead, we give you three distinct ways to go based on the specific features you want, your desired risk and the amount you want to pay.
The Fully Funded Plan
This is traditional health care coverage that most companies are familiar with and usually chose before skyrocketing medical costs forced them to look for alternatives. In this type plan, you select the coverage you want from our top quality insurance partners such as Anthem/Blue Cross-Blue Shield, Guardian-Healthnet and Oxford. You can add benefits at an additional cost, and insurance premiums are due and paid in advance with an annual commitment. If you choose this plan, EBS is an expert in underwriting requirements and can help you make intelligent decisions on such things as low co-pays or deductibles; full coverage for well visits, prescriptions, preventive and early detection; major medical; catastrophic coverage; dental and much more. We’ll make sure you get the best coverage at the lowest possible rates.
The Minimum Premium Plan
This option is a combination of the Fully Funded and Self Funded plans in which your company pays a fixed percentage of the estimated monthly claims (i.e., 90%). It provides the cash-flow advantage of the Self Funded concept and the protection of the Fully Funded plan. You set a maximum total claims amount for your employees (the individual aggregate) and any amount that exceeds it is paid by the insurance carrier. Monthly premiums, based on prior history, are usually much lower and include: plan administration, retention and pooling charges (fixed costs); Stop-Loss coverage (the maximum claims ceiling after which your insurance carrier pays); and accrual for reserves held by you. You are provided the same services by the insurance carrier as in a Fully Funded plan. An insurance policy (including any riders), a contract, summary plan description booklet, employee insurance certificates and other communications for plan participants are all prepared for you.
Self Funded Plan
Self insurance is becoming a popular choice of more companies. With this plan, you self-fund your company’s group medical coverage and instead of paying premiums, you pay for employee health care directly through a unique interestbearing trust fund designed for maximum returns. As your third-party administrator, EBS will set up and manage all aspects of the plan, including providing Stop-Loss coverage (through such top carriers as The Hartford) that protects you against catastrophic claims. This option offers greater flexibility, control and potential cost savings because you can cut out high overhead costs usually associated with Fully Funded plans plus you may avoid significant state taxes on premiums. EBS will create a new plan to meet your needs or duplicate your current plan benefits as part of the Self Funded concept. Our team of first-class insurance professionals is with you all the way, serving as your expert partner.