Do You Have Good Claims
Experience?
It’s Time to Make the Split.
If you’re an employer who works hard to contain your health care costs, you may want to consider split-funding your medical plan through MedBen Split Solution. With MedBen Split Solution, you can share in the savings that come from reduced employee claims. You could cut your premium costs dramatically!
MedBen Split Solution lets employers with 10 eligible medical lives or more share in the savings that come from reduced employee claims by allowing them to partially self-fund their benefits. As the employer, you agree to pay for claims beyond the employee’s deductible and coinsurance, up to a certain level. This Employer Deductible may be set at amounts ranging from $1,000 to $50,000 for each employee (and capped at 2x for families) within a plan year. You decide the amount.
Once the Employer Deductible is met, MedBen pays 100% of the remaining claims cost up to contract maximums.
As far as employees are concerned, MedBen Split Solution operates just like a standard major medical plan . . .
| For The Employee |
| Normal deductibles, coinsurance and copayments will apply. |
| For The Employer |
| Once the Employee’s deductible, coinsurance and copay amounts are met, the employer pays up to the preset Employer Deductible maximum for the plan year. |
| For MedBen |
|
Once the Employer Deductible is met, MedBen pays any remaining eligible claims costs up to the certificate maximums for the plan year. |
In addition, MedBen protects the employer by setting a limit on the total amount the employer might pay in deductibles during a plan year. This is called our Sleep Tight Aggregate. This special stop-loss coverage protects you in the unlikely event your positive claims experience would change.
MedBen offers advantages that make Split Solution the perfect solution:
A Simple Solution
You, the employer, pay an upfront claims
reserve deposit and the first month’s premium, and MedBen takes it from there.
We’ll begin processing your claims and send you a bill one month later.
An Affordable Solution
Split Solution is not only easy to
administer, but is easy on the pocketbook as well. Compare MedBen's rates to
those of other insurers and you’ll find Split Solution to be quite attractive.
In addition, an option of a Rolling Monthly Aggregate is available for those employers who want to better control cash flow while maintaining financial protection.
A Flexible Solution
The basic plan provides you with a number
of deductible and coinsurance options for your employees. You select the benefit
level that best meets your needs. In addition, an employer with over 50 eligible
medical lives qualifies for the Super Split, which provides employees with a
choice of two different benefits plans.
Click here to review the employee options available for the basic plan.
A Complete Solution
We can create a comprehensive employee
plan by adding any of the following services to your plan on a fully-insured
basis:
- Group Life Insurance/AD&D (required for 10-50 life groups)
- COBRA Administration
- Short-Term Disability Coverage
- Dental and/or Vision Plans
Talk to one of our representatives about what Split Solution can do for your company. It’s time you start taking advantage of the situation, and benefiting from your good claims experience.
For more information about MedBen Split Solution, please e-mail our marketing department at marketing@medben.com.