In general, outsourcing involves the transfer of the management and/or day-to-day execution of an entire business function to an external service provider. In the insurance world, the external service provider is known as a third-party administrator (TPA). An arrangement is made between a service provider such as NatHealth and a client (companies, self-fund, etc.) through which NatHealth, the TPA, agrees to provide its client with a service in a more efficient and cheaper manner than if the client were to do it in-house.
At NatHealth we take our outsourcing responsibilities seriously. We appreciate the fact that our clients have chosen us as their business and honor our agreement to provide them with the best possible service in the health insurance field. NatHealth employees strive to work in harmony with their clients upholding our shared work ethic and our shared vision of success.
The benefits of outsourcing or hiring NatHealth as your TPA
Take advantage of the economies of scale we provide from our pooling of resources. Because of our large and growing list of clients and beneficiaries, we can negotiate on your behalf better prices, options and services rendered. This means we are there for you 24 hours a day, 7 days a week and our network of doctors, hospitals and pharmacies covers the entire kingdom.
Focus on the core aspects of your business, while we take care of the details and follow up on your company’s health care policy. Our employees’ rigorous work ethic will translate into saving you time, money and headache!
Outsourcing has proven over time to be a win-win game. The businesses involved, the third party service providers and the clients all profit from this arrangement.
With health-care costs on the rise, you may be looking for ways to lower your medical expenses. Here are 10 ideas:
1. Practice prevention
As basic as it sounds, one of the most effective ways to lower your medical expenses over time is to maintain a healthy lifestyle. For example, you can:
2. Shop around for health insurance
If you don’t have employer-sponsored health insurance, you may be looking to obtain coverage on your own. To get good coverage at an affordable price, shop around. Because premiums vary widely, you’ll probably save money if you get quotes from several companies. Evaluate each plan’s coverage and features, taking into account exclusions, limitations, and the freedom to choose health-care providers, among other things. Also find out how much you’ll end up paying out of pocket in the form of co-payments, coinsurance, and deductibles, because even relatively small amounts of money can really add up if you make frequent visits to your doctor.
3. Cut the cost of prescription drugs
Prescription costs can eat up a large portion of your budget if you take prescription drugs regularly. Fortunately, it’s not hard to find ways to save money. For example, try ordering your prescriptions through the mail, using a traditional or online pharmacy. If you belong to a prescription drug plan (e.g. through your health insurance), you may be able to get a three-month supply of your prescription drug through the mail for the same price you would pay for a one-month supply at your neighborhood pharmacy. You can also ask your pharmacist or doctor to recommend a less-expensive generic drug whenever possible.
4. Check your medical bills
Medical bills are often confusing to read. However, taking a few minutes to go over the charges may save you money in the long run. Check to make sure that the bill accurately reflects the procedures you have undergone and takes into account any applicable insurance coverage you may have. Some errors, such as wrong computer codes, are common, and you may be billed for health care you never received. Contact the appropriate billing office if you think you‘ve found a mistake. If you’ve received an explanation of benefits if you’ve received an explanation of benefits from your insurance company that you believe is wrong, ask the company to review your claim.
5. Join your spouse’s health plan
Many married couples maintain separate health insurance coverage even though it may not be cost effective to do so. Examine both your coverage and your spouse’s coverage to see if it makes sense for either of you to join the other’s plan. Keep in mind that most plans allow you to add a spouse to your plan within a certain time period after you get married (e.g. 30 days).
Otherwise, you may have to wait for the plans’ annual open enrollment period.
6. Keep track of your medical expenses
Come tax time, you may be able to deduct certain medical expenses if you itemize, and your total medical expenses exceed 7.5 percent of your adjusted gross income. Allowable medical expenses include everything from health-care services to medical aids (e.g. eyeglasses, hearing aids). Keep track of these expenses if there’s a chance you’ll be able to deduct them on your income tax return.
7. Negotiate a discount with your health-care provider
Many people don’t realize that you can sometimes negotiate to lower your medical bills. While it may not always work, it doesn’t hurt to ask your doctor, hospital, or pharmacy if they’re willing to come down in price. Before you begin to negotiate, do a little research to find out what other health-care providers in your area are charging. You can also your health-care provider if they’ll lower their price if you pay in cash up front.
8. Contribute to a flexible spending account
Your employer may offer a flexible spending plan that allows you to put pretax dollars in an account. You are then reimbursed for your out-of-pocket medical expenses, such as prescription drugs, dental care, and co-payments. Because flexible spending contributions are taken out of your pay before federal and state taxes are calculated, you get to use pretax dollars to pay your medical bills.
9. Take advantage of free health screenings
If your health insurance doesn’t provide adequate coverage in some areas, or if you don’t have any health insurance coverage at all, you may want to look into free health screenings. Local clinics and hospitals often provide a variety of screenings, such as blood pressure, cholesterol, and mammograms.
10. Get to know your health insurance
Your health insurance may cover more than you think. Nowadays, insurance companies often provide benefits designed to help you stay safe and healthy. For example, you may receive discounts on vitamins, alternative medicines, health club memberships, or bike helmets. You may also be surprised at the range of coverage your health plan offers. For instance, it may cover dental care for young children, chiropractic care, and acupuncture. Read your plan membership materials to find out what products and services are available through your health plan before you pay for them on your own.