South Central Ohio Insurance Consortium

Transcription

1 South Central Ohio Insurance Consortium The management of employee benefits not an insurance product Joining together to achieve better service and management Providing the most comprehensive coverage possible Providing cost effective employee health plans Keeping costs at manageable levels

2 Why SCOIC? The reasons are obvious Budget pressures Capital improvement funds are limited Managing changes in employee enrollment Taxpayer funding uncertainty Unexpected increases in benefit costs Plan management has become increasingly complex

3 How SCOIC helps groups like yours Cost Strong provider networks provide deep discounts reducing the average cost per employee. Funding levels are based on actual expenses without adding insurance company profits. Financial reserves eliminate unexpected increases in benefit costs and helps to develop stable budget planning. SCOIC maintains an internal financial pool to lower stop-loss insurance expense. Financial reserves are maintained to reduce future cost increases.

4 How SCOIC helps groups like yours Management A self governing board made up of group representatives manage and oversee benefits and costs. Your group maintains control of your plan. A claims administrator, consultants and preferred provider networks assist with management. Accurate data allows for the most current reporting SCOIC maintains accountability of costas related to claims and administration.

5 How SCOIC helps groups like yours Plans Benefit Plans can include medical, Rx, dental, vision and life. Offering a variety of provider networks Your group selects the plan and benefits

6 The benefits of numbers Plan administration costs are shared Larger numbers allow for volume buying High dollar claims are spread over the entire group creating a greater averaging of risk A larger variety of provider networks made up of doctors and medical facilities are available to meet your needs Discounts offered to our consortium due to our numbers reduces each groups overall plan costs Insurance company profits are eliminated to reduce your administrative costs 3,000 employees within the consortium offers Benefits a single group alone could not achieve.

7 Employee Benefit Management Corp (EBMC) An Administrative Services Provider Option. Other Administrators are available. To those entities who select EBMC as their plan administrator, EBMC becomes an off-site benefits department and the one place to turn to when special consultation regarding complex health issues is needed. EBMC - One of the largest and most experienced companies in the Midwest that specializes in the management and servicing of self-funded benefit groups like SCOIC. Claims Administration - Assuring timely and accurate claim processing, cost containment and compliance with HIPPA and COBRA regulations. Cost Containment - Managing costs related to prescriptions, PPO networks, out of network expenses and disease management.

8 Miller-Lewis Benefit Consultants Providing support and service as Consultants for SCOIC. Plan Benefit - Designing Plans to meet specific needs. Consulting - meeting with management teams, union representatives and employees Bargaining - Assist in bargaining with management and associations. Customer Service - Resolve claim and plan coverage issues with one of our professional consultants. Local - Centrally located representing groups like yours. Reporting - Providing current information and related changes in medical trends.

9 SCOIC Measures Up Employer specific benefit plan Quarterly meetings of a self governing board. Benefit plan consulting. Full customer service assistance. A variety of provider networks to select from. Benefits are structured to your specifications A variety of Third Party Administrators (TPA) choices. Self funded with healthy financials reserves, Each entity controls their benefit plan. Expenses are a manageable because they are rated to actual costs, not built in profits.

10 Fellow Benefit Managers, It s important for us to keep abreast of current trends and issues in the health care field. More importantly, we look to find alternatives to managing and funding our health benefit plans on our own. Liberty Union-Thurston Local Schools has been fortunate to have been introduced to the advantages provided by the South Central Ohio Insurance Consortium (SCOIC). We now can count on the stability of costs and management control assisting both the school district and our employees as well. The SCOIC started with six Ohio public entities primarily in Fairfield County. The consortium has now grown to represent over 3,000 members. These public employers formed the consortium in an effort to accomplish the following goals: Reduce administrative costs Pool certain benefit costs Better control the cost of large losses Provide better stability in both service and cost, including adequate reserving for protection of all plans. Overall, the consortium is proving to be a very effective tool for improving the management of health benefits. Service remains excellent and the financial performance of the plan has exceeded our expectations. Our district has also been impressed with the communication maintained with our management personnel. As the current chairman of the consortium, I encourage all benefit managers of public entities to consider joining the South Central Ohio Insurance Consortium. Sincerely, Paul Mathews SCOIC Chairman Superintendent, Liberty Union-Thurston Local Schools