Independence Blue Cross (IBC) has announced their Specialty Services Bundling Program is now available for fully-insured customers with 51-500 eligible employees or enrolled contracts and for large self-funded customers.
For fully-insured Pennsylvania companies with 51-500 Eligibles or Enrolled Contracts:
Adding bundles to medical benefit saves customers money
The Specialty Services Bundling Program provides competitive product offerings and helps improve the customer experience by giving cost incentives to customers for adding dental, vision, pharmacy, and employer-paid products to their basic medical coverage plans.
By promoting products beyond what is requested, customers become aware of how they can save money on IBC offerings and save the time by shopping with IBC versus various other carriers. You also support our retention business by helping customers understand the value behind an increased buy.
The bundles below are now available for 2014 coverage effective dates for (1) fully-insured Pennsylvania companies with 51-500 Eligible (New business) or 51-500 Enrolled Contracts (Existing business) and for (2) large, self-funded business.
- Vision & Dental –
- newly adding IBC Vision alongside an existing IBC or UCD Dental, or
- newly adding IBC or UCD Dental alongside an existing IBC Vision, or
- newly adding both IBC Vision and IBC or UCD Dental
May achieve as much as a 0.5% discount off of the IBC Medical coverage. Terms subject to IBC Underwriting review.
- Pharmacy – newly adding IBC Pharmacy may achieve as much as a 2.0% discount off of the IBC Medical coverage. Terms subject to IBC Underwriting review.
- Guardian Employer Paid Products – newly adding the following Guardian Employer Paid products listed below will achieve the listed percent discount off the IBC Medical coverage.
- Life: up to 0.25% Medical discount
- LTD: up to 0.25% Medical discount
- STD: up to 0.25% Medical discount
- One or more of Cancer, Critical Illness, or Accident: up to 0.25% Medical discount
Up to a maximum of 1.0% from Guardian Employer Paid products. Terms subject to IBC Underwriting review.
When multiple bundles are purchased, a discount up to a maximum of 3.5% may be applied to IBC Medical coverage.
For large, self-funded business, the following are offered:
- HMIG Stop Loss: A reporting fee credit off the administration fee of $1.50 PEPM for groups up to 10,000 covered employees if HMIG is the Stop Loss carrier. For larger groups, credit is up to $0.70 PEPM. Discount lost if carrier other than HMIG is subsequently selected whether or not agreement is multi-year.
- Guardian Products: Discount off medical may be available on a case by case basis.
If you have any questions, please contact your Total Benefit Solutions at (215)355-2121.