Setting up and running a Self Funded group health plan.
With EBS on the job, you only have to think of the savings.
How do you know if a Self Funded insurance plan is right for your company? You provide the data and we’ll do math. Generally speaking, if you have a workforce of 100 or more people, if your annual health insurance premiums have been exceeding your benefit claims, and you can show a detailed, comprehensive history of claims payments, a good time to consider Self Funding. We’ll help you be absolutely sure before making any commitments.
Working with proven professionals
If a Self Funded plan proves advantageous to you, the last thing most companies want is to administer and manage it themselves. That’s where EBS is invaluable. As a third-party administrator with years of experience and a track record of success, our staff includes exceptional industry pros who can provide the service, control, cost savings and security you want. We’ll help design and implement the best plan for you, ease you through any transition and then make sure your plan continually meets your needs.
A customized plan
Rather than pulling a Self Funded plan off the shelf, EBS will tailor one that is right for your particular situation and desires. We’ll analyze your company’s current health care plan, recommend changes and show you how you may be able to cut costs and still retain your present levels of coverage. Or, we can add or simplify, whichever you prefer. It’s all about what works best for you, and laying a solid foundation is critical to the end result.
We do it all for you
During the implementation phase, EBS makes things as smooth and easy as possible. We compose, for your approval, the benefit plan documents and description booklets. We assist in the filing of necessary documents such as Schedule A and the 5500 form, plus provide detailed monthly claim reports. In short, we are your group health care representative and liaison – handling all customer service, determining eligibility, processing and paying claims, selecting and overseeing prescription/ provider networks, and issuing benefit booklets, ID cards, claim forms, etc. to your employees.
Better cost control
EBS can make sure that your annual costs are capped at a desired level by issuing a Stop-Loss policy for your plan through such quality carriers as The Hartford or GE Financial. Our licensed agents and underwriters will determine the optimum attachment points (fixed dollar levels above which claims are paid by the carrier instead of you). Or, you may only need Specific Excess Insurance (SEI) to protect against individual catastrophic claims, or SEI coupled with Aggregate Excess Risk Insurance to cover a proliferation of highly specific claims. We’ll help you choose what’s best. At EBS, we believe that the premiums and fees you pay should buy the service and security you want. That’s why we design our Self Funded insurance plans to give you more for your money.