Self-funded plans may be the solution you're looking for. In a typical self-funded plan an employer takes on most or all of the costs of benefit claims. Such plans are more flexible to an employer and are not a subject matter of insurance. Self-funding offers the flexibility to meet healthcare challenges and allows better management of healthcare costs while still getting the benefit of a network - doctors, hospitals and specialists - with contracts that help determine prices.
At Medi Assist, we offer a range of self-funded solutions that help employers manage their healthcare costs while delivering high quality of health benefits.
Creative solutions that deliver value from their benefits investment and improve health.
For a unified, engaging employee experience, we offer a range of digital platforms designed to improve the employee benefits experience.
We don't believe in a one-size-fits-all solution. Our approach delivers real-world solutions using Medi Assist-proprietary tools.
We use features like electronic KYC, Two-factor authentication for claim registration to protect member data from fraudulent activities online.
With Medi Assist's self-funded plans the employer or organization can pay for medical claims as they are incurred, potentially resulting in savings on interest and cash flow management.
In self-funded plans, GST is only applicable to service fees and not to the actual cost of medical claims.
Unlike traditional insurance plans, where premiums may include various overhead costs, self-funded plans only require payment of the Benefits Administrator costs in addition to the actual medical claims costs.
Employers and organizations have complete flexibility in determining the benefit structure and administration of their self-funded plans. They can choose the coverage levels, limits, and other terms and conditions based on their unique needs and budget.
Another advantage of self-funded plans is that benefit restructuring can be done at any time, providing employers and organizations with the flexibility to adapt to changing healthcare needs and trends.
Self-funded plans provide employers and organizations with detailed data on healthcare costs, utilization patterns, and other metrics that can be used to effectively manage healthcare costs and make informed decisions about benefit design and administration.