Group Administrators is positioned to help you and your clients with cost effective strategies/plan solutions, easy access to quality healthcare providers, invaluable reporting metrics and exceptional personal service. We provide professional administrative services, management information reporting and cost transparency tools.
Traditional Self-Funded
With a self-funded health plan your client will enjoy far more flexibility and an opportunity to keep any savings that result when claims are lower than expected. Your plan is designed to meet the unique needs of your organization and the information you gain will help you better manage the risks and future costs of healthcare.
With a self-funded plan, with our help you determine the amount of risk your client can assume and secure stop loss insurance to reimburse claims that exceed expected levels. Fixed costs, such as administrative fees, network access fees and stop loss premiums, are billed monthly. Group Administrators will review/pay health claims as they are incurred, provide the invaluable data you need to make informed recommendations to your client.
Level-Funded
Level funding is a hybrid between fully insured plan and a self-funded plan. It allows groups to safely transition from fully insured to self-funding with predictable monthly claim funding and protections to limit the client’s liability.
Level-funded health benefits programs work very well for many smaller businesses (50-250 employees). The plan sponsor pays a fixed (level) cost per employee per month for all administrative fees, expected claims and stop loss insurance. If claims go over the funded amount, clients are protected by a stop loss policy. If claims usage is less than the funded amount, the client retains the difference, a potentially significant savings. Level funding effectively eliminates the complexity, uncertainty and cash flow volatility of traditional self-funded benefit programs.
Available Product Options
Pension
As a private boutique company, our team leverages experience from leading providers of defined benefit plan administration. We apply more than 12 years of market leadership and specialized experience to provide the information, guidance and support your organization needs to manage plan complexity and risk. Our team utilizes procedural steps to ensure attention to detailed complexities involved in helping members enter retirement with ease.
Taft-Hartley
Taft-Hartley Trust Funds are plans established under section 302 of the Taft-Hartley Act of 1947. Each fund is formed as a result of a collective bargaining agreement. These plans are also referred to multi-employers funds, Taft-Hartley trusts, joint trusts, jointly trusted plans, ERISA trust funds and labor-management employees benefit plans. They have one important common feature; they are administered by boards of trustees on which labor and management are equally represented.
Jointly trusted plans are common when a group of employers, usually in the same industry, join together with the unions with which they have bargaining agreements, to establish a multi-employer trust. Jointly trusted plans are common in the construction industry (bricklayers, electricians, and laborers), retail industry (united food and commercial workers) and the trucking and warehouse industry (teamsters).
The Trustees of the plans are charged with determining what types of benefits will be included in the plan. Payments of these benefits are made from a trust which is funded by employer contributions established through negotiations. Funding also comes from income through investments made with the assets of the trust.
Contributions are made by each employer in the fund on behalf of each of its covered employees.
