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MVP Select Care - Self Funding

Self-funding with MVP may be an excellent option for your clients. Click on the following links to learn more.

Why Self-Fund?

Self-funded benefits can put your clients in control over managing the cash flow and cost of their health care benefits program. It's a "pay-as-you-go" approach that, very simply put, allows your clients to pay claims - plus a fixed administration fee - rather than premiums. By self-funding, your clients may be able to lower costs, earn interest income on any unclaimed reserves, and also design their own customized health benefits packages. In fact, self-funded benefits are an alternative every company of 100 employees or more should at least consider.

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

  • Save your clients money
  • Give your clients flexibility in the benefits they offer through HMO, PPO, or indemnity plans
  • Enable them to reinvest their savings into higher quality benefits
  • Attract and retain employees in a competitive labor market
Self-funding is a strategy that can make a lot of sense for your clients–given a health care partner like MVP Select Care. Because we're here to make any self-funded plan you and your clients 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 clients' self-funded benefits plan. That's why choosing MVP Select Care as a clients' TPA partner is one of the wisest moves you and your clients can make.

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

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

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What to Look for in a TPA

  • Partner Relationship. MVP Select Care works with your 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 of more than 10,000 physicians.
  • Reputation. MVP is a name employees 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 #MemberAmount# members to get the highest quality services for its clients.
  • Flexible Options. MVP Select Care offers complete plan benefits flexibility, plus a self-insured HMO, Preferred Provider Organization, Point-of-Service and Indemnity Plans.

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Managing the Risks of Self-Funding

Deciding to self-fund can be a challenging prospect. Your clients definitely want to manage their claims exposure by protecting the self-funded benefits plan against unexpectedly high or catastrophic claims liability. How can we 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 your client, and can partner with a range of carriers to provide streamlined, comprehensive Third Party Administrator services.
 
Save with MVP Select Care's Maximum Value Plan

If your clients have a particularly low utilization history, they may be eligible for our Maximum Value Plan, which gives qualified employers a way to maximize their health benefits while minimizing their risk. The Maximum Value Plan guarantees coverage in the event that claims against the plan exceed 115% of your "expected" claims–a figure calculated through actuarial budgeting. This represents a savings in stop loss exposure by as much as 40% over conventional plans!

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Let's Talk! How About a Proposal?

If you would like to find out more about how self-funding may benefit your clients, we would be glad to talk. We can also provide a proposal, so that you can see if the numbers – and the benefits – match their goals.

Here are some of the questions we would ask in order to put such a proposal together:

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

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True Stories

Read true stories about three large New York State companies that self-funded with MVP Select Care. 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 your clients.