EAST WEST Administrators is a Third Party Administrator specializing in administering Medical Reimbursement Plans under Section 105 of the Internal revenue Code.
With over 40 years of experience in the Employee Benefits arena, we have been able to focus on the Employer's frustration of the on-going rate increases they face every year.
We have been able to assist Employers in not only saving money but also in stabilizing and/or improving the benefits for the employees.
The advent of using the Section 105 Plan to cut cost began in early 2003 when we discovered a Blue Cross Higher Deductible plan that was cost effective in creating enough premium savings so that an Employer could self fund the expenses under the higher deductible for the employee and at the same time was able to save up to 25% after all the claims were paid. This is a winning approach for the Insurance Carrier, Employer, and the Employee.
While many of the other carriers offer higher deductible plans, the resurgence of the new improved Anthem Blue Cross Elements Higher Deductible plans for 2011 offers the best savings for the Section 105 approach to reducing cost.
The administration of this type of program is uniquely customized for each Employer creating the challenge to properly administer the plan. Employees find themselves now involved in the medical care administration and cost of health care. While it takes some education for the employee, ultimately it is rewarding since their benefits can remain the same or better and their premium contributions begin to finally be lowered by the Employer.
Our services include bilingual staff in Spanish, Mandarin, Cantonese, Vietnamese, Korean, Tagalog and Hindi.
The hands on approach to claims processing is critical in the administration of Section 105 plans. While a push button adjudication system is intuitively the way to go, it does not address the intricacies of the custom nature of each plan of each insurance carrier.
Monthly reporting is also a hallmark of our approach providing the cost savings data for the Employer to review and analyze. It is a welcome report to monitor the immediate savings and to reinforce the initial decision in implementing a Section 105 MERP plan.