Since 2002, IIS Benefit Administrators has been providing businesses with creative solutions to help them reduce group health insurance premiums and maintain quality coverage for employees. The spectrum of product choices is what you would expect from a full service benefits provider: medical, dental, vision, life, pharmacy and consumer-driven health plans such as HSAs and HRAs.
To achieve a real breakthrough in benefits cost reduction, IIS uses proprietary software to deliver a game-changing purchasing advantage under the governance of IRS Code Section 105. The software enables companies to reduce their fixed health insurance costs 50-55% so that they realize year-end bottom line savings averaging about 30%. At the same time, the employer continues to offer quality benefit programs through major national insurance carriers.
How the program works:
• Fixed health insurance costs are drastically reduced.
• Claims are paid only when incurred (instead of pre-paying through higher premium costs using the traditional approach).
• Claims paid only after significant carrier discounts.
As a third party administrator, IIS helps companies manage CASH. Insurance companies still manage RISK.