Services

Self-Funding

Employers establish their own claims liability fund that would normally be covered by premiums paid to an insurance company. Former insurance premiums may earn interest to be credited to your account while waiting for a claim to occur. Any money not required by the employer to cover fixed costs or to settle claims remains with the employer, rather than contributing to the profits of the insurance company.

Through Self-Funding EBS can assist employers in determining what stop-loss coverage they should purchasse. We can also help you evaluate other risk-transfer options, like transplant insurance to cover catastrophic claims rather than covering them under the self-funded plan.

Partial Self-Funding

Partial Self-Funding (PSF) is an alternative concept in health plan financing. It incorporates elements of self-funding with an insured health care plan. Employee Benefit Systems (EBS) offers Partial Self-Funding Administration services to help you meet your needs.

Flexible Spending Account (FSA)

Set aside a portion of your pre-tax income into a FSA or a Dependent Care Account. These accounts can be used towards medical expenses or dependent care throughout the year. Money is taken out pre-tax so you end up taking more money home!

Health Reimbursement Arrangement (HRA)

HRA plans are employer-funded medical reimbursement plans. Employers set aside a specific amount of pre-tax dollars for employees to pay for qualified health care expenses on an annual basis. HRA plans are only funded by employer and cannot be funded salary reduction.

Cobra Administration

EBS COBRA Administration Service provides efficient and effective implementation of all COBRA requirements You no longer have to commit your company's time, personnel, and other resources to maintain time-consuming COBRA paperwork and administrative procedures. We have the experience, knowledge, and dedication you need to make COBRA compliance easy. For many companies, compliance with COBRA and HIPAA regulations is challenging. The laws are difficult to interpret and, with each court case, a new precedent modifies the current laws.

Consolidated Billing

Offering multiple health plans along with other employee benefits requires a great deal of coordination among various insurance carriers, administrators, and other service providers with regard to employee eligibility, enrollment, billing, and remittance. Employee Benefit System's Consolidated Billing Service simplifies this process by handling all the details from eligibility administration to insurance carriers. The client will receive regular reports, including monthly billing statement and financial statements.