Our Value

What We Offer

Our services allow you flexibility of choice in benefit plan design, while driving down costs and enhancing the member experience. We take care of the day-to-day plan administration and give you the data you need to make decisions to continually optimize your healthcare offerings.

We’ll walk you through the pros and cons of various benefit designs based on your business objectives and needs, and we can help you optimize your offerings to employees.

Flexibility of Choice

We pride ourselves on our flexibility—enabling our employer clients to optimize their benefit plans at an affordable cost.

Real Cost Savings

Our cost-containment strategies save meaningful dollars while never compromising the member experience.

Great Member Experience

Health insurance is complex, which is why our customer service team is on call to advocate for our members throughout their healthcare journey.

Data-Informed Insights

We deliver both data and valued insights that enable our clients to continually optimize their benefit plans.

Simplified Administration

We simplify the benefit process and handle the day-to-day tasks for our clients—eliminating needless complexity.

And More

From world-class customer care for members and employers to sales support for brokers, we pride ourselves in making each interaction a meaningful and positive experience.

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Our Plans

Partnership

How it Works

Self-funding can feel like a big shift from traditional insurance products—we’re here to walk you through the process. Once your plan is up and running, we’ll handle the day-to-day and be your trusted advisor to help you make strategic decisions along the way.

FAQ

Common Employer Questions

I hear self-funding doesn’t work for companies with fewer than 250 employees?

Big and small businesses alike gain several advantages through self-funding, including money-saving benefits and greater flexibility. Smaller businesses are more concerned about catastrophic claims, but purchasing stop-loss insurance protects you. Self funding began in the 1950's.  Development of stop loss products made self funding feasible for employers with 15 or more employees.

What happens to my company’s health claims data?

You own it, so it’s yours. You’ll have full access to claims data, which allows you to make targeted decisions that can improve your employees’ healthcare and control costs.

What are other advantages to a self-funded health plan?

Fully insured plans offered by health insurance companies can be inflexible with no changes allowed. With a self-funded health plan administered by Benefit Management Consultants, LLC, you’ll have the freedom to choose copay amounts, deductible amounts, and covered services.

How do I know how much money to set aside? And what about the risk involved?

Working with Benefit Management Consultants, LLC, you’ll be able to determine the level of coverage you require and the budget to fund it.  You’ll purchase stop-loss insurance to cover unanticipated high claims costs at the individual and/or aggregate level.

Where do the costs savings come in?

Self-funded plans reduce your premium costs. Self-funded plans are also preempted by ERISA from paying state mandated costs. Most important: You pay only for the healthcare services your employees actually use, rather than a fixed monthly premium. If eligible medical claims for a year do not exceed your plan’s predetermined limit, the plan can keep those dollars to offset the subsequent year’s funding.  What is normally profit to an insurance company goes to the bottom line for a self funded employer.

How do self-funded health plans work?

A self-insured health plan is one in which your company assumes responsibility for providing healthcare benefits to your employees. A self-funded plan is not health insurance in the sense that you pay premiums to a commercial insurance carrier and they administer the plan. Instead, your company sets up a fund for your employees’ healthcare claims and hires a third party administrator (TPA) like Benefit Management Consultants, LLC. to administer it.

Why should my company self-fund?

As healthcare costs can be managed like most operating expenses, employers are increasingly looking to self-fund their employee healthcare benefits. They’re tired of one-size-fits-all insurance policies, annual rate increase and are seeking more flexible, cost-effective alternatives.