The rising costs of health insurance and the changing healthcare environment are causing many business owners to consider self-funded health plans as a viable option to meet their organization’s needs.
Third Party Administrators (TPAs) design and implement sustainable self-funded health plans that help employers keep healthcare costs low while optimizing the level of employee health benefits. These plans also give employers the ability to customize benefits to meet employees’ needs. Though there can be liability when using a self-funded health plan, those risks can be easily mitigated through the proper application of reinsurance.
The GBS Difference
“We develop solid employee benefit programs that yield very specific and achievable goals,” says James Deren, CEO of Group Benefit Services (GBS).
GBS, headquartered in Springfield, MO, offers products and services through its Regional Marketing Directors (RMDs) who work directly with insurance professionals and employers throughout the US.
“While we develop the benefit program, we also carefully design a complete administrative package around each employer’s unique needs. We leverage our technology and resources to save their plan time, effort, and liability,” says Deren. “This package of technology and consulting creates substantial savings for the plan and an overall greater member experience.”
GBS’s main source of business is its boutique claims and consulting programs, which include:
• Claims administration
• Medical and Rx
• Flexible Spending Accounts (FSA)
• Health Reimbursement Arrangement (HRA)
• Health Savings Account (HSA)
• Short Term Disability (STD)
• Long Term Disability (LTD)
• Health and wellness
• Cost containment
• Direct provider contracting
• Comprehensive consulting
• Web-based or paper enrollment process for
“Our goal is to approach each case as a clean slate as far as what the employer is currently doing in regards to benefits,” says Deren. “We use a methodical process that identifies each employer’s needs and then we make solid, proven recommendations that will yield positive results.”
Proven Track Record
GBS has been helping business owners navigate the often complicated requirements for providing healthcare benefits to employees for 25 years. Serving employer groups that range from 50 to 10,000 employees, GBS has developed innovative, technologically superior solutions that yield market-competitive pricing.
“We are driven to make a positive difference in our industry. There are many times we connect with people on their worst day. We sincerely care about each plan member and want to meet each individual’s needs, especially during difficult times,” says Deren.
As a result of their continued success for employers and exceptional care for plan members, GBS was ranked in the top 50% of the fastest-growing private companies in the US in 2016 by Inc. 5000 and has earned the designation of “Expert Insurance Service Provider” from A.M. Best, a global insurance rating company, for 12 consecutive years.
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