Self-Funded Health Benefit Plan Program
Now Small to medium businesses can get control of health care cost while still providing quality benefits to their employees. National General Benefit Solution’s Self-Funded program gives simplicity and cost savings you are looking for without the hassle of administrating the plan yourself. By combining savings of self-funding with the stability of more traditional plans, their Self-Funded Program gives you cost savings without the hassle of administering the program yourself.
Self-Funded Program Key Advantages:
One Predictable Monthly Premium:
Monthly premiums are determined upfront and guaranteed not to increase for one year.
Plan Administration and Account Management:
Payments of claims, customer service and reporting are all done for you.
All employer-established benefit plans are minimum essential coverage, so employees will not be subject to the individual penalty. When your employees receive Preventive Health Care services from our in-network providers they are covered at 100%.
How Does Self-Funded Program Work?
This plan behaves just like a traditional fully group health insurance virginia. You provide your level monthly payment and National General handles the programs three components.
- Plan Administration: A third-party administrator handles the day-today functions of the program. They will manage claims, provide reporting and handle your employees customer service needs.
- Stop-Loss Insurance: Protects you from higher than excepted claims. Helps limit your business’s financial exposure.
- Claims Account: Holds the funds needed to pay your employees’ claims. Stop loss insurance in the program protects your account from larger than expected claims. If your claims are less than expected you will be refunded part of your accounts balance.
Self Funded Health Plans Benefit Options:
- Deductible options range from $500 to $7,150.
- Coinsurance Options: 100%, 90%, 80%, 70% and 50%.
- Multiple doctor office-visits copay options.
- Health Savings account options available.
- Access to large national network of hospital and doctors.
- Prescription Drug copay options available.
- Cobra administration for all groups with more than 20 members at no extra charge.
- Urgent Care and Emergency Room copay options.
- First dollar coverage diagnostic x-ray and lab options.