Self-funding gives you the flexibility to design a plan that is best suited to meet your company'sneeds.Andunliketraditionalinsuranceplansthatchargeafixedannualrateforclaims,self-fundedplansarebilledmonthly,andonlyfortheservicesused.Thissavesyoufromtheextracostofpayingforsomethingyourcompanymightnotuseandletsyoucontinuouslyevaluateyourcompany’splan,maximizingflexibilityandmitigatingrisktoyourcompany's bottom line.
Traditional insurance plans require a lot of upfront costs for coverage that you and your employees may never use. Your insurance provider will collect your monthly premium based on the number of enrolled employees, and your premium only changes if you add or remove enrolled employees.
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While there are still fixed costs with self-funded plans, such as administrative fees, stop-loss premiums and any other set fees charged per employee, your employee premiums are billed on a per-claim basis.
At Britton Benefit Services, LLC we are leading the third-party benefits industry by working hard to make employee benefits more affordable for you and your employees. As a third-party administrator, we negotiate with leading PPOs and other organizations to help you find the best program for your employees without sacrificing the bottom line. This creates a major cost savings that you can pass on to your employees.
We offer a wide range of online services to help streamline and automate the benefit process for you and your employees. This means easier access to the benefit information you need and faster action on individual claims. By logging in to any of the services we provide, you can look up in-network providers through our list of PPOs, file insurance claims and review a claim'sstatus,researchwhichtypeofplanisbestforyou,andcontrolyourhealthcarecostsbyselectingaPPOthat'sactivelycompetingforyourbusiness.