TRICARE Supplement Insurance Works So You Don’t Have To

Several public health insurance systems cover approximately 36% of the US population. These include Medicare, Medicaid, State Children’s Health Insurance Plan, the Indian Health Service, the Veterans Administration, and TRICARE, formerly known as CHAMPUS, according to the latest Kaiser Family Foundation data.

In general, TRICARE is available to military persons who are Active Duty, Activated Guard/Reserve, or Retired. The program also extends to spouses and dependents.(1) How many of the nearly 9.4 million TRICARE-eligible beneficiaries does your organization employ? Keep reading to find out how it’s in your company’s interest to offer them a special voluntary benefit, called a TRICARE Supplement. (Spoiler: This insurance also happens to be one of the easiest voluntary benefits for HR to set up and manage because it can be fully outsourced.)

Combined Billing Simplifies Voluntary Benefits Administration

HR professionals spend a good deal of their professional lives providing ‘resources’ for ‘humans’. In fact, you, as an HR professional, are quite a resourceful human. One of your best feats is providing your colleagues with some very valuable voluntary benefits, such as life insurance, ID theft protection, and legal aid. As you arrange to deliver a portfolio of great benefits that will attract and retain the best talent, you may wonder:

  • How many voluntary benefit options need to/should be offered?
  • Really? That many?
  • Um, how many different carriers?

If the prospect of wrangling these different benefits has got you stressed and hyper-caffeinated, you should know there’s an easy solution. Meet combined billing.

Demand the Extraordinary for Insurance Administration

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Our new video explains why affinity groups, carriers, and employers choose Selman & Company to work more efficiently, cut costs, and be more responsive to customers.

Insurance Companies Were Hungry for File Feeds

Tracking who’s in and who’s out is easy in a game of “Tag.” It’s much more difficult to track when it comes to group insurance plans, and that’s why we’ve evolved a unique approach to the problem. 

Rapid Growth in Client Management Requires the Right Stuff

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Due to rapid growth in our industry, new acquisitions, and continued requests for business process services, we are hiring for multiple positions in our Client Management Department. As Selman & Company continues to grow, we need seasoned professionals who can make sure each of our accounts are properly served. But first, let's start off by describing what "client management" means in the context insurance administration and outsourcing.

Why Is Buying Insurance So Hard? Blame Your Brain.

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It’s hard to sell insurance.  If you’re in the insurance industry, that’s something you probably already know.  It’s hard to buy insurance.  If you’re a consumer of insurance, that’s something you almost definitely know.

Whether you’re on the selling side or the buying side of the insurance equation, there are a lot of reasons why it’s a difficult transaction to conduct. But here’s something you may not have considered: Many of the reasons insurance buyers and sellers don’t connect are driven by the way our minds process risk.

Four Best Practices for Insurance Claims Processing

Selman & Company is a third-party administrator that handles a wide variety of insurance claims on behalf of many different insurance carriers. Due to the complex claims adjudication needs of each carrier Selman supports, no single flow diagram exists. However, there are several best practices that can be universally applied to all of the claims processes we administer. In this post, we invite you to peek inside the workings of the Selman claims machine.

What Employers Need to Know About Employee Supplemental Benefits

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Recently, Selman & Company acquired Vision Financial Corporation, a firm that specializes in employee voluntary benefits administration. We wanted to take the opportunity to dive a little deeper into the term itself, and explore current trends inside this realm of the insurance industry.

5 Secrets to Improve the Insurance Claims Call Center Experience

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You've probably dialed a customer service number that sent you into a maze of options, where your only hope was to reach a live operator. If you're calling to discuss the intimate details of a health or life insurance claim, you'll want the person you reach to be knowledgeable and friendly. Customer service at Selman & Company is one of the most important aspects of our business; About 80% of all our customer contact flows through our call center, and a phone call is one of the few interactions customers might have in a year regarding their policy. That's why this is a key area to improve customer retention and capitalize on upsell opportunities. Here are five ways we advance our customer’s experience within our insurance claims call center.

Diversification Is Key to SelmanCo Growth in Fractured Market

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"The key to growth has been diversification. And that remains a theme behind its most recent acquisition as [Selman & Company] keeps its sights fixed on claiming a larger share of a fragmented market." Read the Crain's Cleveland article featuring an interview with David Selman.

An Industry Leader

Selman & Company, a leading insurance administrator serving more than 1,500,000 individual customers throughout the US and Canada, manages nearly $300 million in premium under administration. For 36 years we've provided insurance marketing and administrative services to associations, credit unions, banks, employers, and insurance companies. Sign up to receive industry insights and insider news.

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