Do you have an account thinking about paying for group health benefits with their corporate funds? More and more large companies are taking this route. They end up improving their cash flow without sacrificing quality coverage for their employees. BlueCross BlueShield of South Carolina offers employers third party administration services through Planned Administrators, Inc., a separate company that administers third party administration services on behalf of BlueCross.
This means we perform administrative services for self-funded and partially self-funded group benefit plans. We process insurance claims for companies that use their own money to help pay for their employees' insurance claims. They stay in charge of the money they spend -- we handle all the paperwork for them.
What about claims? Do your accounts worry that a high-cost claim could wipe out their hard-earned assets? We also offer added protection by negotiating for stop-loss insurance coverage. If their total claims liability goes over a certain level, a stop-loss carrier will cover any amount above that level. This security means a high-cost claim won't have a serious impact on your accounts' bottom line.
To find out more about offering third party administration to your accounts, please contact your BlueCross marketing representative.