BMA helps employers realize cost savings through design and management of self-funded employee benefit plans. As a result, employers are at ease knowing that they’re offering value-added benefits without breaking the bank.
Want to know how we do this? Outlined below are the top ways BMA helps employers:
- Customized Plan Design: BMA does the heavy lifting of designing plans that best fit each employer, saving the employer time while also providing assurance that they’re getting the most bang for their buck.
- Mitigating Risk: Limiting risk is key to controlling employee healthcare costs. BMA shops and contracts for stop loss policies that will complement your self-funded plan while also protecting you in the event of high cost claims.
- Claim Management: Whether it be medical, dental, or vision claims, BMA tracks, pays, and coordinates with providers on your behalf for each one. This ensures timely payment and compliance with federal law.
- Benefit Promotion & Communication: Heavily used benefits deliver a strong ROI. BMA helps employers drive utilization by provided privately-branded materials that employers can use to promote and communicate their benefit plan.
- Effective Enrollment Seasons: To fuel maximum plan enrollment, BMA’s Enrollment Services team educates HR and employees on plan options and helps with employees’ enrollments each year.
- Staying Informed: BMA’s portal provides a single point of access to all pertinent plan data, programs, and benefit tools. Through this 24/7 access, members, brokers, and employers stay informed about claim activity, plan performance, and healthcare spending.
- Compliance: Between state and federal laws, health plan compliance is a path that must be walked carefully. BMA’s 20+ years of experience ensures your plan documents, plan designs, and other benefit details stay compliant with HIPAA, COBRA, ACA, and other regulations.
- Transparency: Employers can’t make wise benefit decisions without knowing the facts about their plan performance. BMA provides full transparency of the employer’s benefit costs and health plan spending, equipping them to make informed decisions about their benefit plan.
- Benefit Education & Management: Our Account Management and Member Services teams address your employees’ claims and eligibility questions so you don’t have to. We also work directly with you to help you maximize the ROI of your benefit plan.
- Managing Cost: When healthcare costs go up, we implement several programs to help the employer manage and reduce them. Whether it’s utilization review, case management, or PPO network discounts, we’ll implement the right strategies to help you get costs under control.
To learn more about BMA’s self-funded health plans and how we can help you achieve employee benefit cost savings, contact us.