By self-funding your health coverage, you will save money compared to a fully insured plan. But by going a step further with MedBen alternative reimbursement strategies – or even multiple steps further, as we’ll explain below – you stand to save even more.
In addition to traditional PPOs, our reimbursement strategies include:
- Direct-to-Employer Contracting, in which a health system partners with your health plan at agreed upon rates in exchange for exclusivity or preferred status.
- Reference-Based Pricing that pays providers using Medicare pricing, thereby setting reimbursement levels on services that can have wide variances in cost.
- Fair Market Pricing, which determines the right payment for billed services using annualized national data from millions of claims.
All of these strategies on their own will reduce your medical claim costs. But the real value lies in their flexibility. You can use a single strategy as the basis of your plan, or you can combine these strategies to create multiple cost-saving benefits. For example:
- Wrapping a reference-based pricing plan around a direct-to-employer contract or a physician-only network.
- Contracting with hospitals and health systems in multiple states to ensure that all your employees have access to lower-cost local care.
- Integrating a narrow network into a Fair Marketing Pricing plan.
Whatever strategy (or strategies) you employ, MedBen will see to it that your plan members will have the information they need to understand your plan and to take full advantage of its benefits.
If you’re not taking advantage of the savings potential of MedBen alternative reimbursement strategies – or if you are using one strategy but are interested in incorporating more – contact your broker or call us at 888-627-8683.