Healthcare costs continue to rise
Not only are consumers digging deeper into their pockets to pay for things as basic as routine care and prescription drugs, but employers nationwide, both large and small, are having to make tough decisions about the level of healthcare they can offer their employees in order to protect their bottom line.
This is why tens of thousands of employers in a vast range of industries across the country have opted to self-fund their own group health plan, allowing them to maintain greater control over their healthcare spend while also ensuring that employees have access to high-quality care.
With a self-funded health plan (also known as a self-insured plan), the employer assumes the financial risk of providing health benefits to their employees. Instead of paying a predetermined monthly premium to an insurance carrier (as with a traditional fully-insured plan), self-insured employers pay for claims out-of-pocket as they are incurred.
To protect against high-cost, catastrophic claims that could otherwise financially damage or even bankrupt a business, self-insured employers purchase stop-loss coverage that will reimburse any claims that exceed a predetermined amount.
One of the common misconceptions about self-funding is that it requires a lot of work on the part of the employer. This couldn’t be further from the truth! As a third-party administrator (TPA), our experienced team here at Unified Group Services handles all of the day-to-day claims processing and customer service inquiries for our self-funded employer groups.
Unified Programs & Services At-a-Glance
Personalization & Flexibility in Coverage
Just as no two groups are exactly the same—no two health benefit plans should have to be either. Self-funded health plans can be fully-personalized from top to bottom to precisely meet the unique needs and goals of every company or organization.
Cost Control & Savings
With a fully-insured health plan, the insurance carrier collects a pre-determined premium payment each month, regardless of claims volume. With a self-insured plan, the employer only pays for claims incurred by members of the health plan.
Seamless Network Solutions
Self-insurance doesn’t mean restricted access to healthcare. In fact, self-insured plans are designed using competitive local, regional, and national networks based on an employer’s needs.
At Unified Group Services, our customers have access to medical and Rx data—providing the in-depth insights required to make informed, actionable decisions and better manage the risks and future costs of healthcare.
Right For You?
At Unified Group Services, we work with every customer to create a personalized health benefits plan that effectively meets the unique needs of their company or organization. If you’re new to the idea of self-funding or are uncertain if it’s right for you, we’ll help you determine what is best for your organization, and then we will work with you to determine proper levels of coverage.