/ IDA Insurance Trust Begins Operations
IDA Insurance Trust Begins Operations
January 1, 2014 marked the first day of operation for the IDA Insurance Trust, a partially self-insured multiple employer welfare arrangement (MEWA) established for IDA members,their employees and their families.
"Our old group insurance plan served us well for over 40 years," said Dr. Jim Lipton, chair of the IDA Council on Insurance Retirement and Relief, and president of the Board of Trustees of the new Trust. "But we felt strongly that, going forward, most of our members would be better served by a partially self-insured arrangement. It should operate more efficiently, keeping premiums low and stable. It also minimizes the impact of federal health care reform on IDA members."
According to Dr. Lipton, the IDA Insurance Trust, administered by Anthem, offers two key advantages for many members. First, it offers the same broad Anthem network of hospitals and physicians that IDA members have used for years. Second, it is very cost effective, especially for members who enjoy good health.
Under Affordable Care Act rules, fully-insured individual and small group plans are guarantee issue and community rated. This means that an individual’s premium is not affected by his/her health status. That's good news if you have a serious health condition, but bad news if you are in good health and hope to be rewarded with a lower premium. Generally, the provider networks in fully-insured plans are far more restrictive than they have been in the past, making the new Trust more attractive to many IDA members.
Most IDA members who were in the former group had a smooth transition to the new Trust. But that wasn’t the case for some members who requested a deductible or enrollment change, or for new members in the plan.
"Anthem experienced a huge service backlog for new enrollees and rollover members with plan design changes," explained Dr. Lipton. "In some cases, these members are just now receiving their new ID cards."
"We met with Rob Hillman, president of Anthem Indiana, last week to express concern about these service delays. He gave me his personal assurance that these issues would be promptly remedied," said Dr. Lipton.
"Members who experience service issues should report their problems to IDA Insurance Services so that we can follow-up on them. IDA Insurance can also help members who are interested in enrolling in the Trust."
For questions, service concerns, or for information about enrolling in the Trust, contact IDA Insurance Services at 800.417.6424 or TrustQuestions@INDental.org.
The IDA Insurance Trust is a multiple employer welfare arrangement. The IDA Insurance Trust may not be subjec to all the insurance laws and regulations of Indiana. State insurance guaranty funds are not available through the IDA Insurance Trust.
Tags: ida, ida-news, insurance, trust
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