Alyssa Lane
MedBen is a third-party administrator that offers self-funded health insurance plans to employers. The company has been in operation for over 30 years and provides clients with industry-leading claims management, plan design strategies, and transparent pharmacy solutions. MedBen also offers a range of online services, including a mobile app that allows users to check claims and benefits information, as well as FSA and HSA stores that simplify shopping for eligible products. In addition, MedBen Rx offers innovative pharmacy benefits and MedBen Analytics provides clients with actionable reports to help them manage their health plans.
| Characteristics | Values |
|---|---|
| Type of Insurance | Health Insurance |
| Services | Claims management, plan design strategies, pharmacy solutions, wellness programs, customer service, compliance, analytics, vision care |
| Plan Design Strategies | Alternative reimbursement strategies, transparent and independent pharmacy benefits management, self-funding |
| Analytics | Benchmarking capabilities, financial, clinical, risk and savings reports, dozens of charts, graphs and tables |
| Compliance | Information privacy and security safeguards, ISO 9001:2015 recertification |
| Customer Service Tools | 24/7 online availability, prescription prior authorization request forms, phone and email support |
| Pharmacy Solutions | MedBen Rx, lower costs, transparency, drug matching |
| Wellness Programs | VisionPlus, annual vision exams, FSA and HSA Stores |
| Claims Management | Forensic claims review, auto-adjudication, payment |
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What You'll Learn
- MedBen offers a third-party administration service, allowing clients to select from different vendors
- MedBen Rx offers pharmacy benefits, helping clients save money on prescription drugs
- MedBen Analytics provides benchmarking capabilities, enabling clients to compare their data against state and national norms
- MedBen Compliance helps clients stay ahead of state and federal legislation that affects their plans
- MedBen offers a mobile app, MedBen Access, which allows users to check claims and benefits information
MedBen offers a third-party administration service, allowing clients to select from different vendors
MedBen is a leader in benefits management, offering a range of services to help employer groups save money on their healthcare coverage. One of the key services that MedBen provides is third-party administration (TPA). With MedBen's TPA service, clients can select from different vendors who compete for their business. This is in contrast to Administrative Services Only (ASO) organizations, which are typically run by large insurance carriers who package their medical administration with other services operated by the same company.
MedBen's TPA service allows clients to build the best plan design and cost-saving solutions for their specific needs. MedBen helps clients choose the best option by offering industry-leading claims management approaches, innovative plan design strategies, transparent pharmacy solutions, integrated wellness programs, and superior customer service. For example, MedBen Rx offers comparative effectiveness to match plan members with the drugs that will work best for them, resulting in significant savings compared to other pharmacy benefit managers (PBMs).
MedBen also offers a range of online services to help clients manage their accounts effectively. The MedBen Access mobile app allows clients to check claims and benefits information and view their ID cards on-the-go. Additionally, MedBen Compliance helps clients stay ahead of state and federal legislation that may affect their plans, ensuring they receive high-quality and consistent service.
MedBen's third-party administration service is just one of the ways that MedBen delivers superior service and cost savings to its clients. With a focus on transparency, flexibility, and customer satisfaction, MedBen has received high ratings in client satisfaction surveys, with 97% of customer service questions resolved on the first call.
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MedBen Rx offers pharmacy benefits, helping clients save money on prescription drugs
MedBen is a third-party administrator that offers self-funded health insurance plans. MedBen's services include industry-leading claims management, innovative plan design strategies, transparent pharmacy solutions, integrated wellness programs, and superior customer service.
MedBen Rx is MedBen's pharmacy benefits manager. It offers pharmacy benefits, helping clients save money on prescription drugs. MedBen Rx clients spend, on average, 20.9% less than other pharmacy benefits managers (PBMs). MedBen Rx achieves this by offering pricing, access, and appropriateness solutions that collectively reduce prescription drug spend.
MedBen Rx's pricing solutions ensure that clients pay the lowest pharmacy prices available. They compare per-employee claim costs to ensure that MedBen Rx clients pay less than those using other PBMs. MedBen Rx also offers specialty drug assistance, delivering best-in-market pricing through highly competitive solutions.
MedBen Rx's appropriateness solutions help members find the most effective drugs at the best cost. They use clinical-based research to match members with the drugs that will work best for them. MedBen Rx also offers a high-volume formulary that can be added to a client's pharmacy plan to reduce costs.
MedBen Rx's access solutions give members new ways to lower their drug costs. MedBen clients can blend their RBP plan with direct-to-employer (DTE) contracts, which promote the use of quality care through local providers. In exchange for encouraging members to visit contracted facilities, providers bill the plan at mutually agreed-upon rates. MedBen has been facilitating DTE contracting for over a decade and continues to expand its network of exclusive DTE contracts.
MedBen also offers a mobile app, MedBen Access, which allows members to check claims and benefits information, view their ID card, and look up drug information. The app also enables members to compare local pharmacy prices and check the availability of lower-cost equivalents.
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MedBen Analytics provides benchmarking capabilities, enabling clients to compare their data against state and national norms
MedBen is a third-party administrator (TPA) that offers self-funded health insurance plans. MedBen Analytics is a service that provides benchmarking capabilities, enabling clients to compare their data against state and national norms, as well as specific industries. This allows MedBen clients to see how their health plan stacks up against others and identify areas of improvement.
The benchmarking capabilities offered by MedBen Analytics provide clients with a true measure of how their plan compares. Clients can choose to narrow their benchmarks by plan type, number of lives, and other metrics. This customization ensures that the comparison is relevant and tailored to the client's specific needs.
MedBen Analytics offers a comprehensive suite of dashboards that provide valuable insights. The Financial Dashboard, for instance, offers a snapshot of medical and pharmacy claims, specialty drugs, and admissions. It allows users to view paid or incurred claims activity over a selected date range, including monthly claim counts and benchmark average claim costs. This information can be further explored through the Utilization Dashboard, which provides detailed utilization data for ER visits, inpatient admissions, and outpatient imaging.
MedBen's third-party administration services set them apart from traditional insurance carriers. MedBen helps clients build cost-saving solutions and design plans that work best for them. MedBen Rx offers transparency and lower costs compared to traditional pharmacy benefits managers (PBMs). MedBen Rx clients have saved an average of 18% to 20.9% compared to their previous PBMs.
MedBen also assists clients in structuring wellness and disease management programs. Through early detection and prevention of chronic conditions, MedBen WellLiving clients spend 5.3% less on average compared to those who don't use WellLiving. MedBen's approach to self-funded health plans, combined with their analytics and benchmarking capabilities, empowers clients to make informed decisions and optimize their healthcare strategies.
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MedBen Compliance helps clients stay ahead of state and federal legislation that affects their plans
MedBen is a third-party administrator (TPA) that helps clients manage their self-funded health plans. MedBen Compliance is one of its services that help clients stay ahead of state and federal legislation that affects their plans.
The world of health insurance is ever-changing, with rules and regulations evolving rapidly. MedBen Compliance ensures that its clients are informed and prepared for any changes that may impact their health plans. This service provides valuable insights and guidance, allowing clients to navigate the complex landscape of state and federal laws confidently.
MedBen Compliance stays abreast of the latest legislative developments and interprets how these changes might affect their clients' plans. By offering this proactive service, MedBen enables its clients to make informed decisions and adjust their strategies accordingly. This helps clients avoid costly mistakes and ensures they are in compliance with the latest regulations.
MedBen's third-party administration services offer a distinct advantage over traditional insurance carriers. As a TPA, MedBen provides clients with the freedom to choose from various vendors, fostering competition and driving down costs. MedBen also excels in claims management, employing innovative strategies and a thorough claims review process to ensure clients pay a fair price for only the necessary services.
MedBen's comprehensive approach to health plan management includes MedBen Analytics, which offers actionable reports. These reports provide valuable insights into the performance of their clients' plans, highlighting areas of improvement and helping them make data-driven decisions. MedBen Rx is another key service that brings transparency and lower costs to pharmacy benefits, ensuring plan members have access to the most effective medications.
MedBen Compliance is a crucial component of MedBen's suite of services, empowering clients to stay informed, proactive, and compliant in the face of evolving state and federal legislation. By leveraging MedBen's expertise and insights, clients can navigate the complex world of health insurance with confidence and peace of mind.
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MedBen offers a mobile app, MedBen Access, which allows users to check claims and benefits information
MedBen is a third-party administrator that offers self-funded health insurance plans. MedBen's plans are not fully insured, which means that they are self-funded by the client. MedBen has been delivering industry-leading claims management approaches, innovative plan design strategies, transparent pharmacy solutions, integrated wellness programs, and superior customer service for over 30 years.
MedBen also offers a range of other online services to help members manage their accounts and make informed decisions about their healthcare. For example, MedBen Rx is a pharmacy benefits manager that helps members get the right drugs at the lowest cost with total transparency. MedBen Rx clients spend on average 20.9% less than other pharmacy benefit managers (PBMs).
MedBen also offers FSA and HSA stores, which simplify shopping for eligible products. MedBen debit card users don't need to substantiate their purchases, and the stores offer a 100% product eligibility guarantee. In addition, MedBen provides a list of participating pharmacies and stores that offer FSA-eligible items, many of which use an Inventory Information Approval System (IIAS) to identify eligible items at checkout.
MedBen is committed to helping clients save money and providing superior customer service. With MedBen, clients have the ability to select from different vendors who compete for their business, ensuring they get the best option for their needs. MedBen also helps clients build cost-saving solutions and provides insightful reports to help them improve their health plans.
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Frequently asked questions
MedBen is a third-party administrator that helps clients build the best plan design and cost-saving solutions for their health plans.
MedBen offers health insurance plans.
MedBen offers industry-leading claims management approaches, innovative plan design strategies, transparent pharmacy solutions, integrated wellness programs, and superior customer service.
MedBen focuses on self-funding, which offers superior savings over fully-insured health plans. They also provide transparency in pharmacy benefits and pass through all savings and rebates to clients.
MedBen uses extensive information privacy and security safeguards to ensure that only authorized individuals can access personal data. They have also achieved ISO 9001:2015 recertification for their data security measures.
