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At Elevation Benefits
we have extensive experience setting up and managing self-funded health, prescription,
dental, and disability plans for groups of 100 or more participating employees.
Self-funded plans offer you the ability to customize your plan as well as have the
ability to monitor claims, utilization, and renewal processes. There are a
variety of ways to set up the commissions, but we believe in being up front and
explaining how all commissions will be paid for each line of coverage. It
gives you the ability to customize your financial relationship with your Consultant/Broker
and develop an open and long-term relationship. This type of fee-based structure
is also available to our clients of 51 – 99 enrolled employees |
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The “Buy Down” has
become a very popular cost-containment tool utilized by many small business’ in
Idaho. It is a simple concept where a company purchases a higher deductible
from the insurer, and self insure to a lower deductible amount. For example,
you could purchase a $2,000 deductible and self-insure between $500 and $2,000 at
70% to 80%. It is typical to save 10 – 15% of total premium, and even higher.
We have extensive
experience at implementing and administering Buy Down programs for our clients and
our fees are significantly less than most Third-Party Administrators. We will
show you the potential savings and risk for each plan, as well as provide regular
reporting so you know how well it is performing.
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