A Smarter Insurance Option
With a self-funded health insurance plan from Great Bay Administrators (GBA), employers can get more value out of every dollar spent on employee benefits. Reduce costs, enhance quality, and improve the member experience through our flexible plans and large national network.
Advantages of Self-Funding
Cost Control
Reduce fixed costs by only paying for the healthcare services your employees actually use.
Tax Savings
Unlike traditional insurance, a self-funded plan is not subject to state premium taxes.
Cash Flow
Avoid pre-paying for coverage, keeping money in your account until claims are actually submitted.
Turn Your Data into Insights
As a pioneering TPA, we provide complete, transparent access to your claims data so you can confidently fulfill your fiduciary responsibilities – making every decision solely in your participants' best interests.
Our white-glove approach to service means your dedicated account team and our population health strategists will help analyze data and trends. Then, we’ll make targeted recommendations to improve plan design and reduce costs.
Reduce the Total Cost of Your Self-Funded Plan
Leverage our analytics, plan customization, and efficiencies to reduce the total cost of benefits.
- National, Industry-Leading Networks
Your employees will have access to nationwide healthcare across the Blue Cross and Blue Shield (BCBS) network – one of the nation’s largest insurance networks covering 96% of hospitals and 95% of doctors in the U.S.
- Comprehensive Cost Savings
Our self-funded model and national network provide cost control and stability through fixed administrative fees and competitive network discounts. This adds up to a total cost of care averaging 10-20% less than comparable fully insured plans.
- Enhanced Control Over Benefits
Full, transparent access to plan data – combined with our consultative support to identify trends and opportunities – empowers you to make well-informed decisions. The result: Reduced costs and better health outcomes for employees and their families.
- Data-Driven Strategies
By analyzing your unique population health data, demographics, and past claims, we consult to create targeted plan designs and wellness initiatives to optimize claims spending.
- Reduced Administration Costs
Our innovative technology and efficient processes create significant savings that we pass on to you – through lower fixed fees.
- Better Plan Design
We take a long-term, collaborative approach to reducing total cost of care – identifying programs, vendor integrations, and point solutions to help lower costs over time.
- Payment Integrity
You can count on us to facilitate the accurate, timely reimbursement of member claims – while monitoring data to help protect against claims fraud.
Ready to learn more?
Schedule a call to discover how we can help your clients on their self-funding journey.
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