groupSource,
as a Third Party Administrator (TPA), not only helps design the
employee benefit plan for our member organizations 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 the member companies 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:
- Preferred Underwriting:
The groupSource product is based on a long-term pricing
strategy. This means our underwriters will not provide an over
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 Management: 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 the member companies. This product will reduce your overall
expenditure on benefits while at the same time improving the product
and service you receive.
