Health
The ISAS Trust currently offers a self-funded medical, dental and prescription plan. The Trust offers several different medical PPO networks for your employees to choose from. The dental and prescription plans do not utilize a network, which means offers ultimate flexibility to employees of member schools. Download the current Summary of Benefits from the “Documents and Forms” menu at left to obtain information on deductibles, copayments and coverage.
Multiple Networks Gives Flexibility and Low “Disruption” When Changing Plans. The Trust currently offers seven different PPO networks to achieve very high in-network utilization. In addition, if an insured’s physician drops one network, we usually can find the same provider within one of our other network offerings. This provider stability is a great benefit in the dynamic healthcare environment we live in today.
Self-insured means self-managed. As the Trust is governed by the member school’s Business Managers, the schools are the architects of the plan and can gear the plan towards the needs of independent schools. The Business Managers also play an active role in critical decision making and long range planning issues faced by the Trust. The Trust’s administrative costs are very low compared to similar sized self-funded groups.
Marsh USA, Inc. gave the Trust high marks. The Trust contracted with Marsh to conduct an audit of the Trust’s contracts, benefits, and operational procedures. Marsh concluded that the Trust has a great foundation – good financials, sound organizational structure, an active director and board, and low administrative costs. The Trust is currently analyzing some of the suggestions Marsh made, such as varying the benefit structure within the Trust and experience-rating the premiums paid by the member schools, to determine if and when they can be implemented by the Trust.