IIS Benefit Administrators offers General Agent services to brokers, agents, and agencies .
GA services stands for general agent services. In practice, what this means is that IIS Benefit Administrators is capable of performing some of the same administrative activities that people typically associate with an insurance agency itself. For example, some smaller businesses choose to implement a “self-funded” healthcare plan, which requires investing funds “out of pocket” from the company itself to handle medical claims.
The ability to underwrite means that General Agent services can take on more risk and investment when it comes to handling different insurance products, since IIS Benefit Administrators itself is able to manage some of the risk management and liability that would traditionally be possible only with the insurers themselves.
Being able to provide support for underwriting liabilities means that partners and vendors that work with IIS Benefit Administrators can now work faster and provide more specialized products that meet the needs of clients.
This is one of the most critical steps in successfully maintaining health insurance coverage in the area. Managing claims is the lifeblood of health insurance, and must be appropriately processed at multiple levels. For insurance purposes, all amounts and administration must be correct for financial, tax, and even archival and research purposes.
However, because this is health insurance, ACA regulations must also be observed to maintain compliance with regulations. Without ACA compliance during the processing of a claim, proper resolution may not be possible.
And last but not least, a smooth, efficient claims management process is important for client satisfaction. Nothing loses a client faster than bad claims experiences, so it’s vital to minimize the delays, hurdles, and confusion that may arise with this experience.
Today’s world of health coverage is far more complex than the industry of decades past. Traditionally funded, self-funded, and level-funded options now exist for different types of health care coverage. Flexible spending accounts may now need to be managed for individual businesses that have employees wishing to take advantage of these benefits.
As a result of all these new financial transactions and interactions, financial management is now far more complex. GA services include being able to manage some of these more complex financial tasks, taking the burden off a company’s or agent’s own financial department resources, and leaving businesses to concentrate on their business, rather than the “number crunching.”
If your business or agency is looking at more insurance health coverage options but is feeling overwhelmed at some of the work required, IIS Benefit Administrators is ready to help you. We have an in-depth understanding of the industry, as well as decades working within it, with carriers and other providers in all aspects of the business.
Contact us if you’d like to know more about our General Agent services and how we can make your health insurance coverage process more efficient and cost-effective.