Is ELAP an insurance company?
ELAP Services (ELAP) specializes in reducing health insurance costs for mid-size businesses. The company collaborates with employers to design self-insured health plans and establish limits for payment of medical claims that are based upon health providers' cost of services.
How does ELAP insurance work?
ELAP agrees to handle all hospital bills for an employer and defend workers from collections in return for a percentage fee tied to total hospital charges. There is no hospital network. Employees may use almost any facility. Payments are made later based on ELAP's analysis.
Does reference-based pricing work?
Reference-based pricing in health care gives more clarity and stability to the cost of claims, but it's relatively unknown as an option. Only 2% of employers in this study said they currently use RBP.
Is ELAP a TPA?
ELAP – MBA Benefit Administrators || Third Party Administrator.