About the ISAS Trust

Posted January 23, 2009

ISAS Group Benefits Trust

The Independent Schools Association of the Southwest Group Benefits Trust (the “ISAS Trust”) was established in 1989 by three member schools and the ISAS office with the goal of providing a self-insured medical and dental plan for ISAS member school employees and their dependents. The ISAS Trust has since expanded to offer vision, long-term disability and life insurance plans.

The ISAS Trust is a tax-exempt, 501(c)(9) Voluntary Employees’ Beneficiary Association (VEBA) governed by ERISA law. The ISAS Trust is also registered as a Multiple Employer Welfare Arrangement (MEWA) in the state of Oklahoma. The ISAS Trust is audited annually by an independent accounting firm and receives an annual opinion from a registered actuary regarding its financial condition.

The ISAS Trust has 23 members as of September 1, 2010, and covers more than 2,700 employees and 4,600 total individuals. Each member school is represented by a Trustee, and the Board of Trustees governs the activities of the ISAS Trust. A third-party administrator (TPA) provides claims administration and assistance with enrollment and billing. Excess reinsurance (stop-loss coverage) provides protection to the ISAS Trust if claims of any individual exceed a specified limit. For the medical and dental plan, the ISAS Trust requires that member schools make a minimum three-year commitment and meet specific minimum participation requirements.

A school may participate in any and all plans for which it is eligible. The medical, dental and vision plans are currently open to any school in Texas and Oklahoma that is accredited by the Independent Schools Association of the Southwest. The flexible spending accounts plan is offered to those schools which participate in the medical and dental plan, but is not required. The long-term disability and life insurance plans are open to all ISAS schools. Medical and dental coverage is packaged together and is not currently available individually. Underwriting may or may not be necessary, depending on the size of school.

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!

An excellent health insurance program that is responsive to the needs of individuals is highly desirable, even vital, in America today. The ISAS Group Benefits Trust provides outstanding service to our schools' employees, giving them the confidence that they and their family members will be cared for properly. As headmaster of a school and therefore, someone who is responsible for the well-being of those who work for me and their loved ones, I am glad that my school is a member of the Trust."

Arnold E. Holtberg, Headmaster, St. Mark’s School of Texas (Dallas, TX)

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