Insurance Administrator of America, Inc. - Powerful Solutions Real Savings

Want to hit one out of the ballpark? Here is a short primer on some of the most valuable innovations that IAA can discuss with you. IAA can help you determine whether your company is ready for Self Funded Healthcare Insurance or a Consumer Directed Healthcare Plan. We will take on your toughest challenges to make your benefit program work better for you. Trust the experts at IAA for powerful solutions and real savings!

Benefit Breakthroughs Are Our Business

Self Funded Healthcare Insurance

Self funded healthcare insurance replaces traditional, off-the-shelf insurance packages. With self funding, you unbundle those packages, create your own and determine how much your company will fund up to an insured stop loss limit. If claims climb above that limit, your insurance picks up the cost.

Un-bundling allows you to design your own healthcare benefits and to get competitive bids on each of the elements. The funding arrangement gives you savings and cash flow alternatives.

Just one financial advantage is that your company holds its own claims reserves, which earn interest but there are many others. If you have a good claims year, there’s no middleman so the savings are yours. If you don’t, you only pay up to your stop loss limit and your insurer picks up the rest.

IAA has introduced many companies to self funded healthcare insurance. We can work with you to: design your program; pay and manage claims; establish a provider network; and obtain stop loss coverage.

Consumer Directed Healthcare Plans

Tax savings, paired with reasonably priced High Deductible Healthcare Plans (HDHPs), make consumer directed healthcare plans feasible for IAA’s clients. They are designed to share costs and maximize benefits dollars in new ways, replacing traditional medical coverage. You can integrate the following consumer directed healthcare strategies into your existing regional or national carrier agreements, including those with Blue Cross.

Health Reimbursement Accounts (HRAs) are medical spending accounts with tax-exempt funding by the employer. They provide employees with a tax-free basis for paying current medical expenses. Unused funds can be rolled over into the next year to be saved for future medical expenses.

Health Savings Accounts (HSAs) are savings accounts funded by an employer and/or employee. Contributions are tax exempt. Funds can be used tax free for eligible employee, spouse and dependent medical expenses. Funds can also be used for non-medical purposes but they will be taxed as gross income with an additional 10 percent penalty. Unused funds can be rolled over. Employees can take their balance with them if they leave the company.

High Deductible Healthcare Plans (HDHPs) are often combined with HSAs, which are used to defray the cost of the deductible. The in-network deductibles and out-of-pocket maximums must qualify under annual federal guidelines.

Medical Reimbursement Flexible Spending Accounts (FSAs) provide employees with pretax reimbursement of healthcare expenses. Combined with High Deductible Healthcare Plans (HDHPs), FSAs create a win/win proposition for you and your employees. Click the link below for information regarding the MySource FSA Debt Card.

MySource FSA Debt Card Demo

So, you share the cost of routine expenses with your employees by contributing to an HRA or HSA provide an HDHP to help cover serious illness and encourage employees to open an FSA to cover predictable expenses that are not covered by other forms of insurance.

Insurance Administrator of America, Inc.
1934 Olney Avenue, Suite 200
Cherry Hill, NJ 08003
Phone: (856) 470-1200 - Fax: (800) 238-0519