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| TrustCare is endorsed by the Kentucky Hospital
Association as a trust for members to use to fund their
self-insured health benefit program. The Trust is a
conduit for member premiums and claims funding. It is
recommended that self-insureds utilize a trust for
employee dollars so that employee money is not
co-mingled with employer assets. TrustCare is an
economical method to accomplish this goal. Cost to join
is $2.62 per employee per month. This is more than
offset by member advantages set out below.
TrustCare provides choice! Two TPAs are currently
approved by the TrustCare board: Meritain Health and
Fiserv Health. Each administrator has its own unique
advantages depending on the needs of the individual
member. |
MEMBER ADVANTAGES – APPROXIMATE ANNUAL VALUE –$21,000 to $41,000
- AGENT REPRESENTATION: KHA Solutions Group staff is the
agent for TrustCare – they monitor the marketplace. KHA
Solutions Group staff:
- Reviews claims/benefits on at least a six month basis –
or as requested.
- Provides reports to analyze claims in order to recommend
plan design changes to save dollars.
- Assist in development of IBNR
- Provide advice on COBRA/HIPAA compliance.
- Assist in the development of recommended plan designs
and alternatives for each member to include price analysis.
The member is given market alternatives without having to
produce massive amounts of information.
- Participate in open enrollment process providing
presentations at group meetings and participating in
one-on-one employee meetings.
An outside consultant for employee benefits could charge up
to $10,000-$30,000 to assist the employer in plan design
–depending on size of employer.
- BANKING ASSISTANCE:
- Bank account reconciliation – Checks are written from
the Trust and KHA SOLUTIONS GROUP staff reconciles the bank
account monthly for the member. This service saves hours of
employer accounting time each month.
- Monitor adequacy of funds for the TPA
Approximate annual savings - $3,000
- 5500 PREPARATION – the Trust prepares 5500’s for each of
its members. Consultants charge up to $2,500 for 5500
preparation depending on size.
- ANNUAL AUDIT – E &Y produces the annual audit for the
5500’s for a low annual fee – estimated $900-$1,000 for
2006. Obtaining this audit from an independent auditor could
cost up to $5,000 depending on size.
Annual savings - $4,000.
- MEMBER REPRESENTATION: Member representation on the TrustCare board. This gives the member input into any
executive decisions made for the Trust. About 3 board
meetings are held annually – one in conjunction with the
annual KHA board retreat. Board trip – $1,500.
Contact: Darlene Phillips
KHA Solutions Group
800-945-4542
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