These days, the requirements placed on health benefit plans are coming at a dizzying pace. Switching to a self-funded plan can help. Your organization can gain the flexibility needed to meet the needs of your employees. And, fixed costs are reduced since most premium taxes are avoided.
With a self-funded health care plan, we help determine the amount of claims your organization can afford to fund and then secure stop-loss insurance to reimburse claims that exceed that level. As your Third Party Administrator (TPA), we manage the day-to-day operations of your plan, including claims administration, customer service and management information reporting. Management receives the information needed to make more informed decisions and your employees receive the personalized service they deserve.
Self-funding provides greater flexibility, timely information and an opportunity for savings simply not available in a fully insured environment.
Not Just for Big Companies
Most of the recent growth in self-funding has come from small companies with as few as 25 employees.
Opportunity for Cost Savings
Opportunities to lower costs increase when profit margins built into 100% non-refundable premiums are avoided.
Customized Plan Design
With self-funding, you have flexibility in determining the appropriate plan design to meet the needs of your employees. You can redesign your plan at any time.
Ease of Claims Administration
J.P. Farley provides affordable, fast, efficient claims administration service designed to meet your organization’s unique needs.