Are there any up-front fees when joining SCOIC?
No, there are no start up fees for medical COBRA, and/or HIPAA administration associated with the SCOIC proposal. COBRA and HIPAA administration are included in all SCOIC products.
Is the client held responsible for the individual claims over the specific Stop-Loss limit set by the participating member until the claim is filed and paid by the internal pool or Stop-Loss carrier?
Your monthly report will show what is paid out and when the Stop-Loss reimbursement is made to your account on a cash basis but no additional funds will be needed. Your group has a choice of internal pooling limits of $50,000 - $200,000. An SCOIC advisor can assist in selecting the limit best for your group.
How long does the participating member commit to membership in SCOIC?
The beginning is set between the participating member and the SCOIC. After the beginning the membership is set in 3 year commitments.
When a participating member leaves SCOIC, who is responsible for the run-out of claims?
Run-out of claims is funded by the balance within the participating members account. After the run-out period the balance in the account belongs to the participating member. If the account is short of funds the participating member is responsible for the balance needed.
No, there are no start up fees for medical COBRA, and/or HIPAA administration associated with the SCOIC proposal. COBRA and HIPAA administration are included in all SCOIC products.
Is the client held responsible for the individual claims over the specific Stop-Loss limit set by the participating member until the claim is filed and paid by the internal pool or Stop-Loss carrier?
Your monthly report will show what is paid out and when the Stop-Loss reimbursement is made to your account on a cash basis but no additional funds will be needed. Your group has a choice of internal pooling limits of $50,000 - $200,000. An SCOIC advisor can assist in selecting the limit best for your group.
How long does the participating member commit to membership in SCOIC?
The beginning is set between the participating member and the SCOIC. After the beginning the membership is set in 3 year commitments.
When a participating member leaves SCOIC, who is responsible for the run-out of claims?
Run-out of claims is funded by the balance within the participating members account. After the run-out period the balance in the account belongs to the participating member. If the account is short of funds the participating member is responsible for the balance needed.