Self-funded insurance, also known as self-insurance, may be the solution you're looking for. With a self-funded insurance plan, you can assume the financial risk of providing healthcare benefits and set aside a certain amount of money to cover medical claims, giving you more control over the benefits provided.
At Medi Assist, we offer a range of self-funded insurance solutions to help employers and organizations manage their healthcare costs while providing quality healthcare 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 insurance solutions 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 insurance 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 insurance 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 insurance 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 insurance 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 insurance 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.