Benefit financing arrangement

• US 20050256794A1
• Filed: 03/31/2005
• Published: 11/17/2005
• Est. Priority Date: 04/02/2004
• Status: Abandoned Application

• Current Assignee: ThedaCare, Inc.
• Original Assignee: ThedaCare, Inc.
• Inventors: Colby, Ronald B.
• Application Number:
  US11/096,203
• Publication Number:
  US 20050256794A1
• Time in Patent Office: Days
• US Class Current: 705/35
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/08 Insurance

Abstract

Methods and systems for funding a benefit and/or managing a benefit plan. A benefit account is established. The benefit account is funded. A line of credit is established. A benefit is paid from the benefit account, and, if the benefit account balance falls below a predetermined threshold, the benefit is paid from the line of credit.

Claims

1. A method of funding a benefit, comprising:

establishing a benefit account;

funding the benefit account;

establishing a line of credit; and

paying a benefit from the benefit account, and, if the benefit account balance falls below a predetermined threshold, paying the benefit from the line of credit.

2. The method of claim 1, further comprising:

providing a stop-loss insurance policy; and

paying the benefit from stop-loss insurance policy proceeds if the line of credit reaches a credit limit or if a claim matches prespecified criteria.

3. The method of claim 1, the funding step comprising, periodically funding the benefit account.

4. The method of claims 1, further comprising, repaying the line of credit from the benefit account.

5. The method of claim 2, further comprising, paying a premium for the stop-loss insurance policy from the benefit account.

6. The method of claim 1, further comprising:

establishing a benefit administration structure; and

paying fees for the administrative structure from the benefit account.

7. The method of claim 1, the benefit comprising a healthcare benefit.

8. The method of claim 1, the benefit account comprising an interest bearing account.

9. The method of claim 1, the line of credit comprising an interest bearing line of credit.

10. The method of claim 1, the predetermined threshold being $0.00.

11. The method of claim 1, the benefit account comprising an account maintained in a financial institution.

12. The method of claim 1, the benefit account comprising a trust account.

13. The method of claim 1, the benefit plan comprising a benefit plan sponsored by an employer to benefit employees of the employer.

14. The method of claim 1, the benefit plan comprising an ERISA plan.

15. The method of claim 1, further comprising, offering an incentive if a balance of the benefit account is maintained in excess of a target value.

16. A system of managing a benefit plan, comprising:

a benefit account with an institution;

a line of credit with an institution;

a benefit plan management data processor for servicing benefits payable from the benefit account, including;

means for paying benefits from the benefit account if an account balance of the benefit account is greater than a predetermined threshold; and

means for paying benefits with funds from the line of credit if the balance of the benefit account is less than or equal to the predetermined threshold.

17. The system of claim 16, further comprising, means for periodically funding the benefit account.

18. The system of claim 16, further comprising:

a stop-loss insurance policy; and

means for paying benefits with proceeds from the stop-loss insurance policy if the line of credit reaches a predetermined credit limit or if a claim matches prespecified criteria.