Simplifying Benefit Administration
With over forty years of experience in the field of employee benefits administration and health insurance, Benefits Administration & Insurance Services, LLC can provide innovative solutions to solve the most complex benefit offering. We offer self-funded benefit solutions to both large and small businesses and specialize in the agriculture, restaurant, manufacturing industries, to name a few.
With BA & IS, you have access to healthcare expertise and a high level of quality customer service to administer all aspects of benefit administration, enrollment, Plan Documents, billing, monthly reporting and HR support. With our wide-ranging resources, we have creative options to address the benefit needs of any group. Let us help you find the right cost-effective solution for your employees.
Administration Services
Benefits & Claims Administration
Over-the-Border Network Contracting
Cobra Administration
Administration of HRA & FSA Plans
Is Self-Funding Right for You?
The cost of a self-funded plan has fixed components similar to an insurance premium, such as administration fees, PPO access fees and possibly stop-loss insurance. Like an insurance premium, fixed costs are billed monthly based on plan enrollment. In a self-funded plan, the employer also pays the claims costs incurred by those enrolled in the plan. This cost varies from month to month based on health care use. The total cost of a self-funded plan, therefore, is the fixed costs plus claims expense. If the employer has lower that expect utilization, they keep that “profit."
We can help determine whether self-funding is appropriate by reviewing a current employee census, premium rate history, and the parameters of your current plan. Most importantly, analyzing these items will help us evaluate all the alternative strategies available. We will work with you and your Broker to determine proper levels of coverage and all necessary plan components.
In a traditional insured plan, your company pays a premium. Rates are fixed for a year, and monthly premiums are based on the number of employees enrolled. The insurer collects the premiums and pays the health care claims based on the policy’s benefits. Covered persons are responsible for required deductibles or co-payments. If claims for the year are less than what the carrier had anticipated that is excess profit for the carrier.
Since 1974 self-funding has been an option for employers, and becoming quite common for larger employers. But over the last decade it has become more and more common for smaller companies, some with no more than 25 employees, to establish self-funded health plans. The only way to determine if self-funding is appropriate for your organization is to let us review a current employee census, premium rate history and actual claims experience (if available).
Team LEADERS
BA&IS is fortunate in finding the special individuals that make up our staff. Everyone understands the importance of providing an unparalleled level of service to our clients and their employees. We strive to meet all the needs of our plan members, from having experienced bilingual staff to answer telephone inquiries and produce needed documents to finding the needed solution that might just be “out of the box."
ANGELA GALINDO
ADMINISTRATION MANAGER
Angela joined BA&IS in 2014 with degree in Business Administration and Leadership and over 10 years of experience in administration. She is the main contact for all claim and COBRA related questions. She oversees all aspects of claim processing, keeping track of all COBRA participants to insure all guidelines are met. She also handles HRA and FSA claims as well as processing documents for Section 125 POP. She strives to provide the best services to all our clients.