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MVP Select Care - Self Funding

Self-funding with MVP may be an excellent option for employers and Labor/Trust Groups looking for a more affordable health benefits plan than the fully insured approach. Click on the following links to learn more.

Why Self-Fund?

Self-funded benefits can put you in control over managing the cash flow and cost of your health care benefits program. It's a "pay-as-you-go" approach that–very simply put–allows you to pay claims rather than premiums. By self-funding, you may be able to lower costs, earn interest income on any unclaimed reserves, and also design your own customized health benefits packages. In fact, self-funded benefits are an alternative every company/labor group of at least 200 or more employees/members should at least consider.

With the right health care partner, a self-funded benefits plan can:

  • Save you money
  • Give you flexibility in the benefits you offer through EPO or PPO plans
  • Enable you to reinvest your savings into higher quality benefits
  • Attract and retain employees/members in a competitive labor market
Self-funding is a strategy that can make a lot of sense for you–given a health care partner like MVP Select Care. Because we're here to make any self-funded plan you may choose – a real success.

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Why MVP Select Care?

There is a huge range in the quality of services offered by Third Party Administrators, and this can make or break your self-funded benefits plan. That's why choosing MVP Select Care as your TPA partner is one of the wisest moves you can make.

With MVP Select Care, you can count on the highest quality health care and customer service. We'll keep your employees/members informed, and well-served. We'll give you the financial tools you need to gauge the performance of your plan. And we have the experience and the clout to keep your costs down.

Because in an area as complex as health care benefits, you need a seasoned partner like MVP Select Care. We have all of the systems in place to expertly manage the diverse demands of your employees/members and providers–without compromising your bottom line.

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What to Look for in a TPA

  • Partner relationship. MVP Select Care works with clients in a partnership approach, understanding their problems and developing real solutions.
  • Strong provider network. MVP Select Care offers a proprietary, credentialed, multi-state network along with a national network solution.
  • Reputation. MVP is a name your employees/members know, and a reputation doctors and hospitals trust.
  • Excellence in customer service. MVP Select Care offers online and after hours service.
  • Quality health care. MVP Select Care is backed by MVP, a nationally ranked and NCQA-certified HMO with rigorous provider quality controls in place.
  • Medical expertise on staff. MVP Select Care offers full-time physician Medical Directors supervising health care decisions.
  • Superior claims administration, utilization management, underwriting, actuarial and financial analysis. MVP Select Care excels in every aspect of administering health care benefits, backed by the in-house expertise of leading managed care organization MVP Health Plan.
  • Negotiating clout. MVP Select Care leverages the strength of MVP's more than 700,000 members to get the highest quality services for its clients.
  • Flexible Options. MVP Select Care offers complete plan benefits flexibility.

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Managing the Risks of Self-Funding

Deciding to self-fund can be a challenging prospect. You definitely want to manage your company's claims exposure by protecting your benefits plan against unexpectedly high or catastrophic claims liability. How do you do that? By investing in "stop loss" coverage. MVP Select Care is experienced in evaluating and negotiating the purchase of stop loss coverage on behalf of our clients, and can partner with a range of carriers to provide streamlined, comprehensive Third Party Administrator services.

MVP Select Care will introduce you to innovative ways to maintain your company's/Trust's financial stability while enjoying the positive aspects of being Self-Insured.


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Let's Talk! How About a Proposal?

If you would like to find out more about whether self-funding is for you, we would be glad to talk. We can also provide you with a proposal, so that you can see if the numbers–and the benefits–work out for you. Here are some of the questions we would ask in order to put such a proposal together:

  1. What sort of benefits are you interested in offering? (Consider copay amounts, vision, dental, prescription coverage, etc.)
  2. What does your employee/member census look like? (We would need date of birth, gender, zip codes, etc.)
  3. Which tier structure (single, family, etc.) would you be interested in?
  4. What is your claims experience and enrollment history for the last two to three years including the number of employees/members enrolled in each plan offered?
  5. Could you provide a rate history for the plans you've offered over the past two years? (Please include renewal rates or renewal action if available.)
  6. We will also ask you to provide information on any large loss claims you may have experienced.
Contact MVP now to learn what we can do for you and your company.

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True Stories

Read true stories about three large New York State companies that self-funded with MVP SelectCare. Learn how we helped them significantly cut their health care costs, while meeting their specific needs and increasing employee satisfaction. Then contact us to learn what we can do for you.

 

 

                       company A callout       Company B Callout       Comapny C Callout