Group Benefits Coordinator
Career Opportunity: Youngs-Ten Star Group Benefits has a rewarding career opportunity for the position of Group Benefits Coordinator.
Cost & Service Comparison
Most businesses compare employee benefit plans on two platforms: cost and service. With a Youngs-Ten Star Third Party Administrator (TPA) Plan, you get the best of both worlds.
Compare Costs
With a Youngs-Ten Star TPA employee benefit plan, the administration fee isn’t based on a target loss ratio, like a traditional insurance company. Rather, our fee is based on a percentage of claims.
It is fully transparent and easy to understand.
Example of Insurance Carrier Costs
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| This means that the administration fee is actually 33% of claims. | |||||||
Example of Our Costs
| Monthly Deposit: | $100.00* |
| Monthly Claims: | $75.00 |
| Administration (14%): | $10.50 |
| Total Monthly Cost: | $85.50 |
| Employer Owned Reserve: | $14.50 |
| This means that we only charge 14% of claims and you keep the reserve. | |
*Simple deposit example, deposits are based on claims experience and number of employees.
Compare Services
Clients who are exploring the Youngs-Ten Star TPA option often ask us what are they giving up with a TPA. The answer is very simple. Nothing.
You'll get the same customized plan, with the same plan options available to you, but at a lower cost, with more control and better service.
| Youngs-Ten Star Group Benefits | Traditional Insurance Company | |
|---|---|---|
| Admin Services | We administer in-house | Administered by Insurance Company |
| Monthly Payment | Monthly deposit | Insurance premium |
| Administration Fee | 14%-18% | 25%-35% |
| If Actual Claims Are Lower Than Estimated | Employer keeps surplus | Insurer keep surplus |
| If Actual Claims Are Higher Than Estimated | Employer pays for funding shortfall monthly | Insurer absorbs funding shortfall in the short term Premium and reserves are increased at renewal |
| Stop Loss | Available | Available |
| Transparency | Full transparency | Varied transparency |
| Tax Advantages | Available | Available |
| Claims Adjudication | Follows benefit contract | Follows benefit contract |
KNOW YOUR OPTIONS – WITH YOUNGS-TEN STAR
Important Notice | Clients & Visitors re: COVID-19
During these uncertain times, our priority remains the health and well-being of our clients, employees, and community. Please read this important notice regarding COVID-19 and our office closing.