Many medium-sized and large companies custom-design their medical plans according to the regulations of ERISA. These companies then purchase “Stop Loss” insurance that limits exposure to generally 100k per member and Aggregate coverage that limits your maximum exposure. We then negotiate the drug benefit with various PBMs’ (Pharmacy Benefit Management) providers. We then lease a network from one of the top insurance companies, such as United, Anthem, Cigna, or Aetna, and pick the network that has the most outstanding selection of providers, along with the best medical discounts, All claims and pre-authorization, along with extensive case management, are made by the chosen network. The data is compiled by a TPA (Third Party Administrator)and provides detailed bills based on plan utilization. This type of arrangement gives our clients better control of their healthcare costs.
At Klein Associates, Inc., we are here every step of the way to handle all the fine details and help communicate with your employees when they have questions or issues that may come up. Our experts also provide our clients with all the employer/employee communication and enrollment and HR record-keeping systems. All our clients receive a turnkey, seamless solution that generally saves them money when comparing this program to traditional, fully insured options. We are experts with years of experience creating Self-Insured Medical Plans. We would be happy to discuss this concept in further detail.
Please call us or book an appointment to have an online discussion about how we can help you control your costs and make your employees happy. Happy employees are generally more productive and stay with your company longer. In the tight labor market we are now experiencing, employee retention is essential and adds to your bottom line.