As Health Care Costs continue to increase employers are searching for the solutions to cut costs and still maintain a satisfactory level of employee benefits.  Employers are searching for Brokers that will provide the pieces that they most desperately need.  Let the Preferred Group be that piece to your puzzle, with a full array of Self-funded products and customized plan design.  Make the Preferred Group your preferred third-party administrator and ask about our Broker commissions program.

The Preferred Group is responsible for the following services:

• Adjudication of claims (within seven days)
• Coordination of benefits processing
• Maintain eligibility file
• Accumulate history
• Handle appeals
• Provide checks & explanation of benefits
• Prepare monthly and annual reports
• Process pre-determination of benefits
• Obtain stop-loss coverage, if required
• Full accounting

The Preferred Group will aid the plan sponsor in the design and initiation of the plan, and in any revisions the plan sponsor deems necessary.  The Preferred Group will ensure that all reviews meet the criteria set forth under the Employee Retirement Income Security Act of 1974 (ERISA), if applicable.

As per the initial agreement, The Preferred Group will pay plan benefits by checks drawn on a benefit plan account.  The Preferred Group will deposit to such account, each day on which checks are drawn, a draft on the account of the plan sponsor in an amount equal to the sum of the checks drawn on that day.

The Preferred Group does not insure nor underwrite the liability of the plan sponsor under the plan.  The plan sponsor retains the ultimate responsibility for claims made pursuant to the plan.