Self funding is a leading option for companies who are struggling with the rising costs of healthcare. BRMS offers a cost-effective outsourcing solution to the administrative services associated with self-funded plans.
Third Party Administrator in California
BRMS is a leading Third Party Administrator (TPA) in California. BRMS processes insurance claims and certain aspects of employee benefit plans for separate employers and TPA brokers. As a TPA, BRMS handles the claims processing for an employer that self-insures its employees. Thus, the employer is acting as an insurance company and underwrites the risk. An insurance company may also use a TPA to manage its claims processing, provider networks, utilization review, or membership functions. While some other third-party administrators may operate as units of insurance companies, BRMS is independent.
As a Third party administrator, BRMS also handles many aspects of other employee benefit plans such as the processing of retirement plans and flexible spending accounts. Many employee benefit plans have highly technical aspects and difficult administration that can make using Benefit & Risk Management Services more cost effective than doing the same processing in house.
Interested in Self Funding?
Self-funding can cost as much as 40% less than comparable coverage via insurance companies