Realize The Advantage of Better Benefits
Old School Values | New Age Solutions | Total Transparency
Analyze
•
Educate
•
Act
ABOUT KISER
BENEFITS ADVANTAGE
Kiser Benefits Advantage utilizes a unique blend of experience, innovative ideas, and commitment to personal service in assisting employers with design and implementation of group benefits and individual insurance needs. Understanding the challenges, but also the opportunities, resulting from the Affordable Care Act, KBA works with each employer to determine cost effective strategies to combat rising health plan costs. With self-funding now applicable for groups as small as 12 employees, KBA’s experience and its commitment to new ideas position it to help any employer carve its strategic path.
What Our Clients Have to Say
“We’ve been clients for years, and the level of care and support we receive from Bill and Sallie is unmatched. They make insurance simple and stress-free.”
Stephen
“What I love about working with KBA is how personal the experience is. They know our business, they move quickly, and they make things simple.”
Adam
Blog
-
What are Self-Insured Plans and When Should I Go Self-Insured
So far, we’ve learned about how health plans work, the elements of a health plan, and the differences… Read More →
-
Health Plan Costs and Savings
For years, the answer to escalating health plan costs has been to shift more and… Read More →
-
Pharmaceuticals Drive 20% of Health Plan Costs!
No one needs to study detailed tables to be aware of the rising costs of… Read More →
Frequently Asked Questions
Why is life insurance important, and how much coverage do I need?
Life insurance provides crucial financial protection for your loved ones in the event of your premature death. The first and most important question to ask is: How much life insurance will it take to protect my family’s current standard of living? Once this is determined, securing that coverage should be your top priority—even while you work through other planning decisions.
What factors should I consider when planning a life insurance policy?
Planning involves several key considerations, such as:
- The purpose of the policy (e.g., loan protection, estate planning, business buy-sell agreements)
- Duration of coverage needed
- Whether to choose term or permanent insurance
- Tax implications and how premiums will be paid
- Whether agreements like split-dollar or deferred compensation are appropriate
- It’s also wise to involve your accountant or attorney, but don’t delay securing coverage while sorting out these details.
Can employers save on health plan costs without shifting more expense to employees?
Yes. While many companies have responded to rising health plan costs by increasing employee contributions, true savings are possible by understanding and optimizing key elements of a health plan—such as plan administration, networks, claims management, and pharmacy benefits—rather than just shifting costs.
What are the key components of a health plan that impact cost and savings?
The primary elements include:
- Transparency – Understanding each component clearly can reveal hidden inefficiencies and savings opportunities.
- Plan Administration (TPA) – Oversees plan operations, eligibility, and claims.
- Provider Networks – Deliver discounted rates for medical services.
- Pharmacy Benefit Manager (PBM) – Manages prescription drug costs.
- Claims Management – Since claims make up ~80% of plan costs, managing them well is crucial.
- Compliance – Staying compliant helps avoid costly penalties.
What is a self-insured health plan and how does it differ from a fully-insured plan?
A self-insured (or self-funded) health plan is one where the employer takes on the financial risk of providing healthcare benefits to employees, rather than paying fixed premiums to an insurance carrier. While it offers potential cost savings and greater transparency, it also comes with more risk and responsibility compared to a fully-insured plan.
When should a small business consider a self-insured or level premium plan?
Self-insured plans are typically considered for companies with 25 to 200 employees. A level premium plan—a hybrid self-insured model—is often a good fit for businesses with 25 to 100 employees due to its budgeting predictability and potential cost savings. For companies with 100 to 200 employees, a full self-funding strategy with reinsurance may also be advantageous, depending on underwriting results and plan analysis.
Can employers save on health plan costs without shifting more expense to employees?
Yes. While many companies have responded to rising health plan costs by increasing employee contributions, true savings are possible by understanding and optimizing key elements of a health plan—such as plan administration, networks, claims management, and pharmacy benefits—rather than just shifting costs.