After over 30 years of working with advisors and their clients, we believe we have a better way.
We provide greater efficiency in operations than insurers and as a result clients realize improved service and better value for their benefits dollar.
groupSource, as a Third Party Administrator (TPA), not only helps design the employee benefit plan, but we also act as plan administrator, service department and claims manager for each of our client companies.
The addition of these included services allow our clients to out-source the majority of their benefit administration and benefit management duties to groupSource without having to increase the total premium of their benefit plan. These services are the main differentiator for groupSource in the marketplace today.
Some cost-saving factors built into a groupSource employee benefit plan include:
The groupSource product is based on a long-term pricing strategy. This means our underwriters will not provide an overly aggressive initial rate simply to obtain your business. Our strategy provides a stable rate environment and prevents the under-funding of claims that in time can lead to excessive rate increases.
Strong relationship with high quality insurance companies
groupSource provides our clients access to insurance companies that have demonstrated their ability to maintain a stable rate base. We seek out the best value for each type of benefit. The result is that various carriers may be used in combination for the groupSource product and billed on a consolidated statement.
Dedicated service and administration managers
Each groupSource client has an in-house service and administration manager assigned directly to their account. These representatives are always available to answer questions about coverage levels, plan administration, benefit legislation or any other issue that may arise. This provides a high level of expertise and plan management to all client accounts and is a huge benefit to companies that do not have a full time benefit administrator on staff.
Disability claims are often the most difficult process a company will face. groupSource offers the expertise of our disability management team to guide the employee and employer through the challenges of a disability claim. This service is included for all groupSource clients and is a major advantage over any other employee benefit program currently in the marketplace.
groupSource provides a high quality insurance product with services that reduce the administration cost for our customers. This product will reduce your overall expenditure on benefits while at the same time improving the product and service you receive.