Self-funding your health plan
Expert guidance to lower costs
Are you looking for an industry expert to manage your health plan while you take care of all the costs? Check out Priority Health's self-funded plan option, also known as administrative services only (ASO).
Self-funding defined
With self funding, we will provide administrative services to ensure claims are processed quickly and accurately. This option allows you to maintain control of your health care costs while limiting your risk with stop-loss coverage.
How self-funding works
- Priority Health works with you to choose a benefit design and determine projected costs based on such information as your group's claims history and size.
- Your group uses health care services as they normally would.
- As claims are submitted, Priority Health uses your funds to pay them.
Self-funding features
Detailed and transparent reporting
You receive regular financial, network performance and benefits utilization reports so you can track usage throughout the year. Our reports are:
- Accurate
- Comprehensive
- Group specific
- Delivered electronically in a secure environment
Network discount and utilization guarantees
- Average discount with participating providers is 41%-48%
- Average prescription discount is 20% for brand-name drugs and 70% for generic drugs
- Discount and in-network utilization guarantees offered based on region or group size
Top-performing customer service
- 98% percent of all claims processed electronically; 99% are processed accurately
- 96% percent issues received by our call center are resolved on the first call
- Average speed to answer is 38 seconds
- Only 2.4% of calls abandoned, compared to industry standard of 4%
Health management
Take advantage of our wellness class offerings and other health management services to help keep costs in check.
Compare self funding with Priority Health's other funding options.
Contact the sales representative for your region or an independent agent to find out more about the shared funding option.
