Recognizing that each employer is different, MedBen has multiple funding arrangements available for your high-deductible health plan. Your options include fully-insured, split-funded and self-funded plans. 

Fully-insured. MedBen offers a fully insured high-deductible health plan in Ohio, Indiana, West Virginia and Michigan. There are a variety of plan design options available to provide maximum flexibility. If offered in conjunction with a Flexible Spending Account (FSA), Health Reimbursement Arrangement (HRA) or Health Savings Account (HSA), the employer can generate even greater benefit savings. The benefit of the fully insured option is that the employer has maximum risk protection while receiving the cost-sharing advantages of a high-deductible health plan.

Split-funded. This option is unique. MedBen Split Solution is ideal for employers with 20 or more employees who have a good claims experience. With the Split, employers can receive a lower insurance premium by assuming some of the risk. It still provides the protection of a fully-insured plan, but builds in an employer deductible. Because the employer assumes some of the claims liability, premiums are lower. And, if claims remain low, the employer keeps any residual claims reserve dollars in his pocket!

Self-funded. While the employer assumes more risk, self-funding can be the most economical way to provide an employer-sponsored health plan at a medium to large-size company. Self-funded plans offer maximum flexibility in benefit design for the employer, and MedBen systems can handle the administration of most any type of health plan design. And, even self-funded plans offer insurance protection through underlying stop-loss coverage. With self-funded arrangements, employers can offer a high-deductible health plan and tie that plan to an FSA, HRA or HSA.  An FSA may also be linked to a traditional health plan design. When creating a consumer-driven package, employers who offer self-funded health plans clearly have the most options to explore.

For Additional Savings. To help you get the maximum benefit from your high-deductible health plan, MedBen offers a variety of consumer-driven products: the FSA, HRA and HSA. The FSA and HRA can be offered alone or in conjunction with any type of medical plan. They also work well in combination, with one being designated to pay before the other. Some employers will use an HRA on a stand-alone basis to pay for a specific benefit or to offer a retiree health benefit. An HSA can be offered in conjunction with a qualified high-deductible health plan.

These different products are explained in more detail in their respective section of the CDHP area on the website. Whether offered alone or in conjunction with a medical plan, MedBen can offer assistance in setting up the most effective package for your benefit needs.

For information about MedBen funding options, please e-mail our marketing department at marketing@medben.com.