Advantages

The ISAS Trust currently offers self-funded medical, dental and prescription drug plans. If you’re like any other organization 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. 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. Here are just a few advantages of joining the ISAS Trust:

  • We’re managing your health plan cost increases below trend. Health insurance premium costs rose an average of 7.6% each year from 2004 through 2011; the Trust was successful in holding plan increases to around 5.4% for the same period. In 2011, we held our cost increase to only 2.0% -- one-fourth of the national trend.
    Trust premium increases have been consistently below market.
  • Pooling together for economies of scale. We're working together to lower administrative costs and to provide consistent benefits to all employees.
  • You can offer your staff comprehensive coverage through a nationally-recognized medical carrier. With one of the largest provider networks nationwide, United Healthcare (UHC) has negotiated deeply discounted rates for medical services, which results in direct cost savings for plan members who use UHC network providers. In addition, UHC offers some of the most cutting-edge programs for medical and disease management to help manage costs for higher-cost health conditions.
  • There’s added flexibility in determining plan coverage. Because fully-insured plans are subject to state mandates, you often have no say in the coverage your plan provides. With self-funded plans, you can design your own coverage and even makes changes to the plans each year.
  • You won’t pay taxes and other expenses required by fully-insured plans. Offering a self-funded plan allows the Trust and its members to avoid paying premium taxes, profit retention and other fees that are required by fully-insured plans. These expenses can really add up!
    Only 2¢ of each $1 premium goes to non-claim or non-benefit costs.

As a group, the Trust has not only provided a better value to each of our member schools, but we continue to make enhancements that will benefit those they serve.

The ISAS Group Benefits Trust provides an outstanding health care plan for our school's employees. As a business officer I particularly value the opportunity to participate as a Trustee in important decisions regarding the operations and future directions of the Trust to assure that we continue to offer the best health insurance possible to the ISAS schools and their employees."

Mary Pat Higgins, Associate Head / Chief Financial Officer, The Hockaday School