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What Happens When Employers Make the Switch to Self-Funding?

If you’re an employer that is looking to make the switch to self-funding coverage, we will lay out what you can expect when transitioning to a self-funded health plan with ABS as your TPA.  As a third-party administrator, ABS works closely with our clients to help them manage their benefit plans. We walk them through the transition to self-funding and try to be as helpful as possible. Here’s what you can expect: 

Get to know your TPA 

The process begins with you getting to know your TPA and vice versa. We like to personalize our TPA services to our clients. We do this by getting to know your needs and coming up with solutions on how we can meet them. The great thing about self-funding is that it allows you broad flexibility to steer the coverage and cost to cover the things that will help your employees the most. Getting to know you helps us customize your plan, so we think it is a really important first step in the process. 

Communicate your overall goals with them 

Don’t be afraid to communicate your overall goals with your TPA. This will help them customize a plan that works for you. At ABS, we can customize a health benefit plan for your employees that meets their needs and yours. It is part of our job to create a plan that meets your goals, so be sure to let us know them at the beginning of the process. 

We go over the details with you 

Your TPA can explain the overall concept and operation of using their services. There are applicable laws that your TPA will go over with you. One of our goals is to be as transparent as possible with our clients. We work to ensure that you understand all the details of your plan. You are the ultimate decision-maker when it comes to self-funding, so don’t be afraid to ask questions. 

We create a personalized plan and work out a plan of action 

After we know your goals, we can create a customized plan for you. We will work on a plan of action for all of your self-funding needs. Your TPA may have some extra coverage options in mind as well. They will be able to advise you on what options are best for you including adding wellness coverage to your employee plan. Your TPA will be able to explain your plan to you and adapt it to your growing needs. 

Are you ready to make the switch to self-funding? ABS can help! Learn more about our coverage options for employers. 

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