How are the claims for the Employer funded supplemental component administered?
Providers send their bills to Beneficial Administration Company, Inc. the third party administrator, for processing and claims payment. Some of the savings from the Employer’s previous insurance plan and medical reimbursement plan is deposited into a trust account. Generally, BAC requires a minimum of three (3) months of savings be deposited over the first three (3) months in order to establish a reserve from which claims can be paid. Thereafter, BAC will bill the Employer for claims paid in each of the following months to replenish the reserve. Thereafter, the Employer will be billed by BAC for claims paid in each of the following months to replenish the reserve.
