Funding options
Competitive payment plans that fit your budget
We provide several funding options for small and large business health plans. Funding options let you determine how much the business will pay each month for employees’ insurance costs and what administrative services will be covered.
The best option depends on your desired level of control, as well as cost and risk preferences.
Funding options:
- Fully insured: Your business pays a fixed monthly premium. We pay the employees’ insurance claims and cover administrative services. This no-risk option comes with higher premiums.
- Shared funding: Your business pays a lower, fixed monthly premium to cover certain administrative services, such as claims processing and customer service support. You’ll pay employees’ claims through stop-loss coverage, an insurance fund that retains unspent payments for future claims. We cover claims in excess of your monthly funding limit. Stop-loss coverage keeps your costs consistent, making it a no-risk option for employers.
- Self-funding: Your business pays the lowest fixed monthly premium for plan administrative services that guide you through risk and claims management. You’ll pay employees’ claims. This option is best for businesses that want greater control over their health plans. This option has higher financial risk and may not be available for small businesses.
The size of your business may affect the availability of options. See our small business funding options or large business funding options for more information.
Not sure which option to go with? We’ll help you find the best solution.
Consumer-Driven Health Plans
We offer health savings accounts, health reimbursement arrangements and flexible spending accounts for businesses that want to put purchasing power in their employees’ hands.
These options encourage saving on health care expenses and offer significant tax benefits.
Learn more about CDHPs (PDF).
Why choose us?
Our plans give your business access to a number of unique benefits and administrative services, including:
- Broad care networks: Our statewide network includes providers throughout Michigan, and we’ll work with national and regional networks to provide access to care for employees outside the state.
- Data management: Because we administer your health plan and track all claims, we can use the data we collect to provide comprehensive benefit and utilization reports. These data reports give you a road map to control future costs and continually improve your benefit plan.
- Flexibility: We’ll make sure the plan meets your needs, and we’ll provide regular reviews and guidance throughout the life of the plan.
- Personal service: You’ll reach a dedicated account representative when you call us – not a general help line. This person will get to know your business and answer your questions personally.
- Transparency: You’ll see every dollar spent on claim payments with detailed reports that are always available online.
Administration
Our self-funded and shared plans are administered by ASR Health Benefits, a wholly owned subsidiary of HAP. ASR experts will assist you with health plan administration questions, such as:
- Debit card transaction processing and reporting
- Employee enrollment and communications
- Medical 1099-MISC forms
- Medical and prescription plan analysis and cost projections
- Monthly electronic claim and funding reports
- Plan documents and employee benefit booklets
- Preferred provider networks
- Stop-loss insurance, tracking and reporting
