What Type of Insurance is CoreSource?

CoreSource is a subsidiary of Trustmark, a large insurance and benefits company based in Illinois. CoreSource offers a range of health insurance administration services and products focused on employers.

Below is an overview of the types of insurance and services that CoreSource provides.

About CoreSource

CoreSource is a benefits administration and healthcare management company headquartered in Lake Forest, Illinois. Here are some key facts about CoreSource:

  • Founded in 1988 as a subsidiary of Trustmark insurance company.

  • Provides services for self-funded employer health plans, government programs, and fully insured medical plans.

  • Parent company Trustmark has over $2 billion in total assets and 6,000 employees nationwide.

  • CoreSource has offices located across the U.S.

  • Services over 1 million health plan members through its clients.

  • Has a specialty focus on public sector clients including state governments.

  • Offers customized medical management services.

Types of Insurance Services Offered by CoreSource

CoreSource is not itself a direct health insurer. Rather, the company offers the following insurance-related services:

Health Plan Administration

A major service is health benefit administration on behalf of self-funded employers, public sector clients, health insurers, and others. This includes functions like:

  • Claims processing
  • Benefits set up and configuration
  • Member enrollment
  • Eligibility management
  • Billing and premium collection
  • Reporting

So CoreSource can completely manage the administration of a health insurance plan for an organization, handling all of the back-office functions.

Stop-Loss Insurance

For self-funded employers, CoreSource provides access to stop-loss insurance through their parent company Trustmark. This coverage protects against large or unpredictable health claims exceeding a set threshold.

Stop-loss insurance helps stabilize the costs for employers who take on the risk of their employees’ healthcare costs directly. CoreSource makes it easy to add this key protection.

Health Management Programs

CoreSource offers medical management programs to improve health outcomes and control costs. These include:

  • Disease management for chronic conditions
  • Maternity and NICU management
  • Hospital quality management
  • Claims analytics to identify cost drivers
  • Wellness and health promotion

The medical management services help health plan clients optimize spending on care and identify opportunities to improve member health.

Compliance Services

CoreSource assists with compliance needs related to regulations like HIPAA, PPACA, Medicare Part D, and state laws. This ensures clients’ health plans follow all legal and regulatory requirements.

Member Support Services

Lastly, CoreSource provides member support services such as producing ID cards, maintaining provider directories, managing appeals, and offering online member portals. So they can act as the primary contact point for health plan members.

CoreSource’s Specialty Areas

While CoreSource serves a diverse set of clients, they have particular expertise in several key areas:

Public Sector Employers

A major focus is state and local government entities such as health departments, municipalities, public school systems, police and fire departments. CoreSource tailors offerings to meet public sector needs.

Taft-Hartley Health Plans

CoreSource has experience managing Taft-Hartley health and welfare funds on behalf of unions and multi-employer associations. They simplify administration for these types of entities.

High-Risk Insurance Pools

CoreSource supports federal and state high-risk health insurance pools, providing enrolled members access to comprehensive major medical benefits.

Retiree Health Plans

Many public entities look to CoreSource to administer retiree health benefits and Medicare plans that seamlessly coordinate with Medicare. This simplifies retiree coverage.

So while serving a diverse customer base, CoreSource has particular expertise when it comes to public sector clients, Taft-Hartley funds, high-risk pools, and retiree coverage.

CoreSource’s Parent Company: Trustmark

It’s important to note that CoreSource is a subsidiary of Trustmark, a large insurance carrier and benefits company with over 100 years of history.

Some of Trustmark’s other major business lines include:

  • Life insurance
  • Disability insurance
  • Dental and vision insurance
  • Voluntary benefits like critical illness and accident insurance

So while CoreSource focuses on health plan administration, their parent Trustmark offers a diverse set of insurance products. CoreSource’s services are strengthened by Trustmark’s scale, financial stability, and experience as an insurer.

How CoreSource Complements Health Insurers

For health insurance carriers, CoreSource can provide administrative support and services while the insurer focuses on plan design, network development, marketing, and other strategic priorities.

Their partnership optimizes division of responsibilities to maximize efficiencies and reduce health plan costs. This makes CoreSource an appealing partner for many types of medical insurers.

The Bottom Line

Their specialty areas are public sector clients, Taft-Hartley funds, and high-risk pools. And their capabilities are strengthened by parent company Trustmark’s experience and capabilities as an insurer.

So while not an health insurer directly, CoreSource plays an important role in managing critical functions for health plans and employers seeking to optimize their benefits administration. Their services complement medical insurers and self-funded organizations well.

Frequently Asked Questions (FAQ)

Q: What types of insurance does CoreSource directly sell?

A: CoreSource does not directly sell health insurance policies. Rather, they provide administrative services to support health plans offered by employers, insurers, and government entities.

Q: Does CoreSource provide health insurance for individuals?

A: No, CoreSource does not offer health insurance coverage that individuals can directly purchase. Their services are focused on employer and organizational health benefit clients.

Q: What is Trustmark’s role related to CoreSource?

A: Trustmark is the parent company of CoreSource. Trustmark offers various insurance products that complement CoreSource’s health benefits administration services.

Q: Can small employers get health insurance through CoreSource?

A: CoreSource serves employers of all sizes, but they do not directly sell group health plans to small businesses. Rather, they can provide administrative services for health plans that small employers purchase.

Q: Does CoreSource manage Medicare Advantage plans?

A: Yes, CoreSource has extensive expertise in administering Medicare Advantage and Medicare Part D prescription drug plans on behalf of insurers and employers. This is a key service offering.



Who is CoreSource under?

We are part of the Trustmark family of companies, one of the leaders in benefits for over 100 years.

What did Trustmark used to be called?

The bank’s initial predecessor, The Jackson Bank, was chartered by the State of Mississippi in 1889. Through numerous acquisitions and name changes, the Trustmark brand began in 1971, and the bank now serves Mississippi, Alabama, the Florida Panhandle, Memphis, and Houston.

Is Cigna and Trustmark the same?

Cigna® and all other trademarks are the property of their respective owners, which are not affiliates of Star Marketing and Administration, Inc., and Trustmark Life Insurance Company. Plan design availability and/or coverage may vary by state.

What provider network does Trustmark use?

We work with a variety of PPO networks, such as Cigna and Aetna, to offer access to discounted provider services and get you the medical care you need. Trustmark also offers wellness and advocacy programs that help you manage your health, identify cost savings and navigate the healthcare system.

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