This week our Featured Provider is Benefits By Design (BBD) and the search keyword is "BBD ASOnly" to access their solutions!
ASOnly is Benefits by Design (BBD) Inc.’s budgeted Administrative Service Only (ASO) solution. ASOnly feels similar to a traditionally insured Health and Dental Plan but offers a cost-effective, self-funded option for employers.
By being a self-funded plan, employers pay for their employee’s claims, plus the administrative fees, commissions, and applicable taxes, that are required to adjudicate those claims. This allows the employer to save on costs that insurers typically include for assuming the risk of the benefits plan.
Employers must have prior insurance coverage to price the budgeted rates appropriately. The plan can also include insured Stop Loss Protection, easing employers’ financial risks by removing the responsibility of paying for claims over and above a specified threshold per employee.
With ASOnly, you have the choice of including FORMULARY and/or VALUEHEALTH.
FORMULARY reduces the impact of high-cost drugs on the benefits plan. For employees who require a high-cost drug that is not covered, FORMULARY helps secure funds through alternative means.
VALUEHEALTH, is a preferred provider network offering additional perks and savings incentives for employers and their employees for using the specified network.
ASOnly is adjudicated by ClaimSecure.
For more information please Contact Danielle Lalonde (firstname.lastname@example.org)
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