Self Insurance Strategy & Vendor Management
Empowering Your Business with Tailored Self-Insurance Solutions
Navigating the complexities of self-insurance requires a strategic approach and expert guidance. MDG specializes in helping businesses design and implement self-insurance plans that align with our clients’ unique needs and financial goals.
Why Choose Self-Insurance? Self-insurance offers flexibility, control, and potential cost savings, allowing employers to customize health coverage for employees while managing risks more effectively. Our team of experts works closely with clients to evaluate whether self-insurance is the right fit, taking into consideration the company’s size, risk tolerance, and financial health.
Vendor Management: Maximizing Value and Efficiency A successful self-insurance strategy relies on selecting the right vendors and managing them effectively. From third-party administrators to stop-loss insurance providers, and care management programs we help you identify and partner with the best vendors to support your self-insurance plan. Our proactive vendor management approach ensures that you receive optimal service, competitive pricing, and seamless integration of all components of your health benefits program.
Stop Loss premiums are typically one of the three largest component costs of a self-insured plan. Our Stop Loss Center of Excellence (COE) offers clients a streamlined process and a dedicated claims and service team that alleviate the complexities associated with a third-party stop loss vendor and ensures employers receive the most competitive rates in the market.
- Preferred carrier panel with A rated insurance carriers
- Multiple carrier panel model ensures competitive pricing
- Best-in-class contract provisions “no new lasers” “renewal rate cap” “mirroring” and “auto renewable”
- Expedited reimbursement and claims oversight, average claim payment paid within 5 days
- Detailed claim statements for each reimbursement
- Claims undergo medical review
Our Comprehensive Approach
- Strategic Assessment: We begin by conducting a thorough analysis of the employer’s current health benefits program and assessing financial readiness for self-insurance.
- Plan Design: Based on our findings, we craft a custom self-insurance plan that aligns with our client’s objectives, balancing cost efficiency with comprehensive coverage.
- Vendor Selection: Leveraging our industry expertise and relationships, we guide employers through vendor selection, ensuring they meet your standards for service, quality, and cost.
- Ongoing Management: We don’t just set up your plan and walk away. Our team provides continuous support, monitoring performance, managing vendor relationships, and adjusting your strategy as needed to ensure ongoing success.
Your Partner in Self-Insurance Success With MDG Benefit Solutions, employers are not just choosing a health insurance broker; they are choosing a partner committed to organizational success.
Get Started Today Ready to explore the benefits of self-insurance? Contact us today to schedule a consultation and take the first step toward a more flexible and cost-effective health benefits strategy.