STEP 1:
Replace current high-cost traditional fully insured medical plan with a premium-savings HMO/PPO deductible
- Save on premiums
STEP 2:
Deposit premium savings into a claim spending account with Benefit Advantage, a certified Third Party Administrator (TPA)
- Savings are deposited tax-free
- Savings are safe and secure in claims account with TPA
STEP 3:
Implement one of Benefit Advantage’s proven and easy-to-use “shared-funded” benefit plans to mirror current employer group plan benefits
- 72% of Americans spend $500 or less annually ($42/mo) on healthcare
- Savings used to cover benefit differential if and when claims occur, up to plan limits, then carrier pays 100%
- Plan members can be issued a Benefit Advantage medical ID card
STEP 4:
Benefit Advantage ties everything together with expertise and proven claims processing system that is transparent to employee
- Benefit Advantage administers and processes employee claims for the employer, with quarterly reporting
