In our Corporate Profile page, we briefly mentioned that CAMADS is a licensed Third Party Administrator. We also stated that we could provide stop-loss coverage as well as benefit administration services for clients wishing to self-fund medical, prescription drug, dental and short term disability benefits.

While our main focus is directed toward insured products of the CAM Benefit Program, there are instances where a self-funded approach may be a better choice for a prospective client. Certain factors should be considered for self-funded medical plans:

• Stop Loss coverage is available through various markets, subject to group size.
• Generally, employers with 100 or more employees are best suited for self-funding. There are instances, however, where groups of less than 100 lives may choose self-funding.
• A well-documented claims history for at least two years is needed. Monthly claims, monthly employee count as well as detail on large claims, both past and on-going are necessary.
• Documentation relative to current and prospective plan design should be provided.

Additional Self-Funded Services
Self-funding can also work well for group dental and short term disability programs. Stop loss re-insurance is generally not needed and CAMADS can provide benefit administration services for these coverages. Documentation relative to claims and benefits is needed when requesting a self-funded quote for either coverage.

COBRA Administration Services
COBRA administration services are available to any client currently covered under the CAM Benefit Program or self-funded through CAMADS. A nominal charge of $1.50 per employee per month is charged for this service.