NO MORE RENEWALS
Our Success is Measured by your Satisfaction
Is there a more cost effective way to run our plan with the same or increased benefits?”
If this is what you ask yourself every twelve months when you take a 10%, 20% or 30% increase…
We can help!
GBS Insurance Solutions Inc. has over 29 years of experience in the employee benefits market. Our strong relationships with multiple insurance carriers allow us to provide competitive, high-quality plans tailored to your company’s needs.
One unique option we offer is the Administrative Services Only (A.S.O) Program. This self-insured arrangement allows your company to potentially save money on employee benefits over the long term without sacrificing coverage. Traditionally available only to large corporations, smaller businesses can now also access the advantages of this program, including insured stop-loss protection for added financial security.
Administrative Services Only (ASO) plans allow employers to self-fund their employee benefit plans while outsourcing administrative tasks to an insurance provider. Unlike fully insured plans, the insurance company does not cover the cost of claims. Instead, it provides essential services such as handling enrollments, processing claims, managing changes, and issuing payments. With ASO, employers assume the financial responsibility for claims, giving them greater flexibility and potential cost savings by removing additional fees, reserves, and inflation factors typically included in fully insured rates. This approach offers more control over benefit costs while still benefiting from professional claims administration.
The A.S.O program will be cost effective in the following ways
- You will eliminate trend factors and inflation costs which will definitely prove to be more profitable
- Your only charge over the cost of pure claims will be a small administration charge.
- You will have your monthly claims experience available each month vs. waiting for your quarterly reports.
- We also offer on site administration training and provide any required software for all Human Resource departments.
- Employee meetings will be available upon request to address any and all plan questions related to this new funding method.
"Small Firm, Big Heart: Helping You Attract, Retain, and Care for Your Team with Custom Benefits Solutions"
With flexibility to only use what you need, when you need it – combine one or more of our products for a tailored solution.
