Advantages

If you’re like any other ISAS member school trying to navigate today’s health care environment, you’re probably looking for ways to manage your own costs, yet still keep your coverage competitive and affordable for your staff.

Here are just a few advantages of joining the ISAS Trust:

  • We’re managing health plan cost increases below trend. Nationally, employer-sponsored health insurance premium costs rose an average of 5% each year from 2005 through 2015. However, during that same time period, the Trust was successful in holding our plan increases to an average of 4.2%, including just a 3.0% increase for calendar year 2018.
  • Pooling together for economies of scale. We're working together to lower administrative costs and to provide consistent benefits to all employees.
  • Member schools can offer their staff comprehensive coverage through a nationally-recognized medical network.With one of the largest provider networks nationwide, BlueCross BlueShield (BCBS) has negotiated deeply discounted rates for medical services, which results in direct cost savings for plan members who use BCBS PPO network providers.
  • There’s added flexibility in determining plan coverage. Because fully-insured plans are subject to state mandates, participants often have no say in the coverage their plan provides. With self-funded plans, ISAS Trust member schools can design their own coverage and even make changes to the plans each year.
  • Member schools pay lower expenses than stand-alone insured plans. Offering a self-funded plan allows the Trust and its members to avoid many of the fees and high expenses that are associated with fully-insured plans. In fact, only 2.2¢ of each $1 premium goes to non-claim or non-benefit costs.
  • Member schools have more peace of mind. A third-party administrator (TPA) provides claims administration and we've teamed with one of the best-in-class member support and medical disease and care management organizations in the country. Excess reinsurance (stop-loss coverage) provides protection to the ISAS Trust if claims of any individual exceed a specified limit.

If you currently offer an independent, fully-insured plan, or even a self-insured plan, you're probably not getting the most value for the dollars you spend on health care. As a group, the Trust not only provides a better value to each of our member schools, but we continue to make enhancements that will benefit those they serve.

Contact the ISAS Trust for an analysis of how your current benefit offerings and costs compare to what the ISAS Trust can provide. Many member schools have been able to enhance their benefit offering while reducing costs

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