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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.
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
|This means that the administration fee is actually 33% of claims.|
Example of Our Costs
|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.
KNOW YOUR OPTIONS – WITH YOUNGS-TEN STAR
How do you balance the cost of employee group benefit plans with the actual benefits to you and your employees?
Employee benefits are often a significant portion of an employer’s compensation costs – but at the same time, they are also an important recruitment and retention tool.