Claim Administration: Self-Funded Dental Plans
Providing
a dental plan to employees helps them maintain ongoing, preventative
oral health. With regular dental visits, participants are likely to prevent
cavities and gum disease. Cavities and gum disease prevention are a major
element to all types of dental plans. This helps keep the cost of dental
insurance low.
An attractive option for many employers is a self-funded dental plan. Instead of purchasing insurance coverage from an insurance carrier, as the employer you can choose to fund the risk up to a certain level where a reinsurance carrier is engaged. The amount of risk assumed depends on the size of your organization, the nature of your business, and your tolerance for risk.
The cost savings experienced from a self-funded dental plan can be substantial. Moving from a fully funded plan to a self-funded plan will increase cost savings. Reserves for claims are held by you and released as claims actually occur.
Hanratty & Associates has a wealth of experience helping clients determine if self-funding helps their organization. We will help you custom design your self-funded dental plan and assist you in choosing a reinsurance carrier.
H&A Administrators provides full administrative services. These services allow you to offer a self-funded dental plan that lets your employees receive the best dental care at the lowest possible cost. Our H&A team administers your dental plan, handling eligibility verification, claim submission, payment and toll free customer service for the convenience of your employees.
Self-funded dental plans are governed by the Employee Retirement Income Security Act of 1974 (ERISA) and follow Federal law. Hanratty & Associates will guide you through the regulations set forth by ERISA and keep you updated when changes are made to the laws.
Contact us to learn more about Self-Funded Dental Plans!