With the attempts to phase out the Affordable Health Care Act (AHCA), small business and individuals are now suffering to provide health care that they can afford. The insurance world has become complicated and time consuming when trying to provide employees with basic health, dental, and life policies. It is a critical time where groups need to ban together to be treated fairly in this market.
Strength in numbers is key to leverage bargaining power with insurance agencies. However, not all trust/pools work the same, therefore having qualified experts to examine situational needs is important to find the best fit.
The two basic costs that come with becoming self-insured are:
1) cost of claims, 2) administrative costs. You want 85-90% of your costs to be attributed to claims while the remaining 10-15% cover administrative costs that include stop loss, network rental, care management, wellness programs and more. Contribution strategies are also critically important, and are different for each employer group. This process can be time consuming and complex.
At Valley Schools, our goal is provide our members the lowest health care costs without compromising on service or your ability to choose.
Being in the right trust/pool is crucial to attain the bargaining power needed, along with experienced leadership and financial stability to achieve a successful self-insurance program. Check out your options here to see how much we can benefit you.
For more information, please visit our new site at: myvalleyschools.org