ISAS Trust History
The Independent Schools Association of the Southwest Group Benefits Trust (the “ISAS Trust”) was established in 1989 by three member schools with the goal of providing a self-insured medical and dental plan to help protect ISAS member school employers and families from what could be a significant financial burden caused by serious illness or injury. The Business Managers of these schools understood that by joining together they could reduce the cost of providing health care benefits to their employees and gain control over cash flows.
The ISAS Trust is a multiple employer welfare association (MEWA). As a MEWA, the ISAS Trust is regulated by the States of Texas and Oklahoma, as well as ERISA law. The ISAS Trust is audited by an actuary at least annually and by an independent accounting firm on an annual basis.
The ISAS Trust has grown to over twenty schools, covering approximately 3,500 lives. Each member school identifies a Trustee, and the Board of Trustees governs the activities of the ISAS Trust. Arrangements have been made with a third party administrator (TPA) to provide claims administration and assistance with enrollment and billing. Excess reinsurance (specific stop-loss and aggregate coverage) provides protection to the ISAS Trust if claims exceed certain limits. Other consultants assist the board in continually monitoring all aspects of the program, assuring that members have the latest in benefit offerings along with the greatest return on the collective purchasing strength.
The ISAS Trust requires that member schools make a minimum three-year commitment to the ISAS Trust and that the member school must enroll a minimum of 75% of eligible employees in the ISAS Trust.