Self Funded Group Health Products
Self Insured Lines
The Benefits Communications portal gives members 24/7 real-time, online access to a variety of benefits information, including claims, EOBs, accumulators, FSA/HRA/HSA accounts, billing and more.
HR Professionals also have 24/7 online access to the information they need to make informed benefit decisions quickly and easily. Our system empowers employers to manage open enrollment and ongoing life event changes electronically.
Providers can also access the portal in order to verify eligibility and benefits.
Why Self Fund?
RMA specializes in self funded Employee Benefits design and administration. There are several reasons why employers choose to self-insure. The following are the most common reasons:
- Complete Customization. You can customize the plan to meet the specific health care needs of your employees and their families, as opposed to purchasing a ‘one-size-fits-all’ insurance policy.
- You maintain control over your health plan dollars. In most cases, you will set up a special account to hold funds (company and employee contributions) to pay incurred claims, enabling maximization of interest income. Income that would be otherwise generated by an insurance carrier through the investment of your premium dollars.
- You do not have to pre-pay for coverage, which provides for improved cash flow.
- You are not subject to conflicting state health insurance regulations and benefit mandates. Self-insured health plans are regulated under federal law (ERISA).
- You are not subject to state health insurance premium taxes, which are typically 2-3 percent of the premium’s dollar value.
Additionally, you can also make the final call on important variables, such as:
- Policy limits