Group Health Benefits

Ten Star Group Benefit Specialists can offer you many different types of benefit plans - let us help you decide what plan suits YOUR needs.

Typically, group health benefit plans that are administered through a life insurance company require a loss ratio of 80% on health and dental benefits. This means for every $100 paid in premium, $80 pays the claim, and the remaining $20 is retained by the company.

However, that $20 represents 25% of the amount of the claim! This means that the insurance company is charging you an administration fee of 25%!

Self-Insuring on a Cost Plus basis

In this method, the administration cost is a percentage of the actual claim, usually in the range of 10% to 15%, depending on the number of employees.

Prescription drugs represent over 80% of health claims. In recent years, the price of new drugs prescribed by doctors has increased annually by nearly 17%, which have produced an increase in overall health claims of between 12% - 15% per year.

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Group Health Benefits

Self-Insuring on a Cost Plus basis

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