Benefits administration is challenging for health insurance brokers and small business owners who want to offer quality employee benefits. Self-funded insurance is easier and more affordable when you work with a benefits administrator like GMS.
The Benefits of Self-Funded Insurance
Self-funding your health insurance is a long-term strategy that can benefit small businesses. When you work with a benefits administrator, you’ll be able to:
- Customize benefits to meet the unique needs of your employees and business. You’ll also have the flexibility to adjust your benefits over time as needed.
- Save money on health plans per employee from benefit design changes and reduced insurance premium taxes. You’ll only pay for actual claims; not the total expected claim level from a fully-insured carrier.
- Share the risk with stop-loss insurance (also known as excess insurance). By monitoring your claim volume and accuracy, you’ll have protection against catastrophic or unpredictable losses.
Benefits Administration Services
GMS benefits administration services offers comprehensive solutions for both insurance brokers and employers. When you partner with GMS, our benefits administration services include:
- In-house claim processing
- Affordable Care Act (ACA) support
- Consolidated billing
- Member advocacy
GMS Benefits Administration Services Offers Solutions For:
Whether you’re an insurance broker looking to strengthen your business or a small business owner who wants more control over the benefits you’re offering to employees, learn how GMS benefits administration services can benefit for you.
Gain a competitive advantage by expanding your product base, streamlining processes, and securing better rates through GMS benefits administration services. We’ll work with you to administer HRA, COBRA, eligibility management, consolidated billing, and more to your groups.
Unlike fully-insured plans, self-insured plans give you the control to buy insurance that meets the needs of your specific group. GMS benefits administration services will help you lower your group’s health insurance premium, limit your risk, retain employees, and allow you to put your focus back on growing your business. Click here to learn more.
Members and Providers
Already a GMS benefits administration services customer? Click here to access your account, check benefits, eligibility, claim status, or view your 1099s electronically.
Contact GMS today to learn more about our benefits administration services.