Our self-funded dental plans are an attractive option for many employers. Instead of purchasing insurance coverage from an insurance carrier, as the employer you can choose to fund the risk up to a certain level and keep the unused money you would normally be obligated to spend on dental insurance premiums. The cost savings experienced in moving from a fully-funded plan to a Direct Dental self-funded plan can be substantial. Pay only when benefits are used – keep the money in your bank account that would have otherwise been spent on premiums year after year.
There are many reasons why some form of self-funding is used by more than two thirds of U.S. employers. Here are just a few:
In a self-funded plan, funds can be contributed to an employer-established account and transferred only when needed to pay claims and expenses.
In most states premium taxes, which usually range from 2% to 6% of costs, do not apply to self-funded claims funds. Insurance company profits, risk charges and many costly state-mandated benefits are also avoided. Direct Dental will show you exactly where your cost savings will occur both now and in the future.
With added pressures and a growing desire to meet the changing needs of employees self-funding allows employers to design a health benefit plan to address specific conditions as well as company objectives. Direct Dental will design a customized plan for your company to meet your proposed health care budget.
Self-funded plan designs can include strategies to monitor utilization, audit claims, implement and verify all discounted provider arrangements and assure appropriateness of care. Direct Dental will show you how we can assist in this area.
Self-funding provides easy, secure access to all the information needed to manage a plan effectively. Your management receives confidential claim and funding reports each month via secure online access to important benefit-related information. Direct Dental provides our clients with access to a state-of-the-art benefits portal that gives you access to monthly reports detailing plan utilization of benefits, claims processed and total checks issued.
As a certified B-Corporation, we hold a higher standard of values which align with our core values. We practice accountability, transparency, and hold a high value to being socially responsible to our clients and staff. We believe quality benefits will keep your employees happier and healthier to improve performance and retention, and reduce turnover. We are your partner in health and business.