Blue Cross Blue Shield of Arizona recently launched an administrative services solution with the potential of delivering more predictability and affordability for businesses that prefer a self-funded model for their health benefits.
This new Balanced Funding solution allows qualifying businesses with 15 or more enrolled employees to pay a fixed monthly amount — which includes the cost of administrative services, stop-loss insurance and all claims coverage — rather than having payments fluctuate based on claims. The program offers enhanced transparency, with monthly reports that allow businesses to track healthcare trends and costs throughout the year. If annual claims are more than what the business has paid, no additional dollars are owed — and businesses have the ability to earn dollars back if claims are lower than expected.
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