Types of Benefit Plan Funding

A detailed infographic illustrating ASO and BASO benefit plan funding concepts, showing differences, billing processes, and key stakeholders involved. The style should be professional and informative, suitable for a business audience.

Understanding Benefit Plan Funding

Test your knowledge about different types of benefit plan funding with our engaging quiz! Dive into essential concepts like ASO, BASO, and Large Amount Pooling, and discover how these funding arrangements can impact both employers and employees.

Whether you're looking to enhance your understanding or prepare for a professional discussion, this quiz is perfect for you. Key topics covered:

ASO and BASO differences
Large Amount Pooling benefits
Billing processes for groups
Who to consult for funding arrangements

6 Questions2 MinutesCreated by CalculatingWolf327

What does ASO stand for?

Administrators' Standard Operational

Administrative Selections Only

Always Start Over

Administrative Services Only

What types of groups typical fund with ASO?

Large groups (>50 lives)

Small groups (<50 lives)

Groups operating in multiple provinces

Groups without an administrator

What is a difference between ASO & BASO?

BASO is always lower monthly amounts.

BASO never has a surplus / deficit.

ASO is fully insured where BASO is not.

BASO has budgeted set rates where ASO bills for actual claim amounts.

Which is true about Large Amount Pooling (LAP)?

LAP protects the employee from high deductibles.

LAP allows for all claims to swim in the deep end of the pool.

LAP protects the employer from high cost claims.

LAP is not a factor with ASO or BASO.

How many bills will a groups with ASO / BASO receive monthly?

1 for insured & 1 for ASO/BASO.

1 for each plan member.

Only 1 for the entire group.

None because they are paying actual claims.

Who should you first ask about funding arrangements for your groups when in doubt?

The MARS team member on the account.

The employer.

Mike.

Your local real estate agent.

Types of Benefit Plan Funding

Understanding Benefit Plan Funding

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