ASOnly®

For businesses with 35 or more employees looking for a predictable, self-insured product for their health and/or dental benefits.

ASOnly®

For businesses with 35 or more employees looking for a predictable, self-insured product for their health and/or dental benefits.

ASOnly®

For businesses with 35 or more employees looking for a predictable, self-insured product for their health and/or dental benefits.

A Budgeted Administrative Services Only (ASO) Solution

ASOnly® is Benefits by Design (BBD) Inc.’s budgeted Administrative Services Only (ASO) solution that provides coverage for the most commonly-used expenses to maintain employee health, both in-province and abroad. Unlike traditional benefits plans, ASOnly plans have funding levels based on claims activity, so you are only paying for claims incurred (plus administrative fees, commissions, and applicable taxes).

ASOnly takes the risk away from cash fluctuations month-to-month by charging a premium for each month that allows you to budget your cash efficiently. At year-end, there are three possible outcomes at time of reconciliation:

 

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Claims Are Higher than Total Annual Premiums

If the claims are higher premiums collected, employers are required to pay the difference.

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Claims Are Equal to Total Annual Premium

If the claims are equal to premiums collected, no action is required. It’s been perfectly budgeted!

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Claims Are Lower than Total Annual Premium

If the claims are lower than premiums collected,the leftover budgeted amount is reimbursed to the employer, or can be applied to the billing account for next year’s costs**.

**Experience from the previous year will be used to set new rates (either increase or decrease).

 

How it Works

First, employers choose the type of ASO plan they would like to take. They will be able to choose from:

Extended Health Care | ASOnly
Extended Health Care (EHC) Only

Provides coverage for employees and eligible dependents for prescription drugs, medical items, paramedical services, travel, and hospital costs.

Extended Health Care & Dental | ASOnly
Extended Health Care (EHC) & Dental

Provides coverage for employees and eligible dependents for prescription drugs, medical items, paramedical services, travel, and hospital costs, in addition to basic, major restorative, and/or orthodontic expenses.

Dental | ASOnly
Dental Only

Provides coverage to employees and eligible dependents for basic, major restorative, and/or orthodontic expenses.

Stop-loss Coverage

Second, employers set their stop-loss coverage level. This is the amount per employee that they will cover and protects the plan from large claims. Stop-loss coverage is set at $10,000 per person, however, if employers currently have another level of stop-loss in place, we may be able to accommodate this to match current benefit coverage.

Travel Coverage

Next, employers choose their travel coverage. ASOnly plans offer travel coverage for all eligible employees, with a choice for employers between 30, 60, and 90 days coverage***.

***Employees under 70 and over 70 years of age on the same plan must have the same number of days’ coverage.

Add-ons

Finally, employers can choose to add on Formulary Coverage, which excludes specialized, high-cost drugs from the plan. Employers can also choose to add on the Preferred Provider Network (PPN) Coverage, which requires your employees to fill their prescriptions at any Rexall pharmacy. Adding one or both of these options will lower the cost of the plan.

Speak with your Advisor to see how ASOnly could work for you!

Don’t have an Advisor? Contact us!

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