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Symbyos provides plan and claims administrative services for its IQ Dental Plans system of employer-funded dental plans. Why employer-funded? Most major corporations self-fund their dental benefits because dental benefits are not catastrophic, are statistically predictable (even groups as small as 25 participants) and don't need to be insured. Plan spending depends on plan design and benefits utilization. Self-funding typically saves money over insured plans. Consider that 30% of covered individuals do not use their dental benefit in a given plan year. Those that use their dental benefit spend less than $300 plan dollars per year on average. Only 5% hit their annual maximum benefit. Self-funding can typically save about 30% over insured plans.
IQ Dental Plans are not insured, but they have all the protections of insured plans—including waiting periods, frequency limits, exclusions, and alternative benefits. Provider fees are not capped, but plan dollars per procedure are. These safeguards can be easily adjusted based on the employer's benefits philosophy and actual benefit usage. Plan overdraft protection is available through our originating bank.
IQ Dental Plans allow patients to visit any dentist (175,000 licensed dental providers in the United States). Flexible plan designs allow for flexible treatment options. Consumer education with ToothIQ helps patients with treatment decisions.
IQ Dental Plans provide clients all plan spending data (not pooled, generalized data), including exact dental utilization by procedure, claims administration fees, and broker fees. Complete cost transparency brings a clear and complete understanding of your dental plan spending and is the key to intelligent decision-making in plan design. The more data you accumulate, the better you can fine-tune your plan—changes that can benefit both the employees and the employer. IQ Dental Plans offers unprecedented data reporting at any level of detail.
Report showing only 1 out of 55 individuals in the dental plan reached their annnual maximum benefit. 40% of individuals did not use the plan at all.
Report showing plan spending by dental subcategory.
Report showing plan spending by dental CDT code in the Crowns category. This information can be used to make detailed adjustments in the dental plan design.
Employers pay a portion of employees' dental claims (based on plan design) and a low PEPM (Per Employee Per Month) administration & broker fee. That's it!
For more information about Symbyos dental plans, call toll-free: 1-877-SYMBYOS (796-2967).