Spiraling health care costs represent an enormous challenge to the profitability of small and mid-sized employers. Labor organizations have addressed these challenges by implementing self-funded arrangements to help control costs and better manage benefit programs. Despite this growing trend of self-funded alternatives, options have been limited for small and medium-sized businesses often due to risk aversion and cash flow limitations.
Enter Members Health Plan NJ, an association based self-funded, non-profit trust (also known as a MEWA), that is designed to reduce costs and give small and medium-sized employers greater access to a broader choice of health plan benefits.
Members Health Plan NJ provides multiple medical plan options, comprehensive provider networks and key benefits like pharmacy, dental and voluntary benefits. We look just like a traditional health benefit program but have some unique advantages:
- No Shareholder returns or executive compensation. All savings or “profits” go back into the plan to offset future costs or improve benefits.
- The Plan is owned by the members.
- The Board of Trustees is comprised of hospital and medical groups as well as non-medical business owners.
- All trustees are non-compensated volunteers.
- A New Jersey Department of Banking and Insurance Full Certificate of Authority.
- Flexibility over the insurance underwriting guidelines and the ability to obtain stop-loss coverage from major reinsurers.
Ultimately, the Members Health Plan NJ difference is our programs are “Designed for You” to provide small and medium-sized businesses with greater choices at competitive rates to help you maintain your bottom line and provide quality health care coverage for your business, employees and their families.
Our Core Values
Members guide the current and future path of the fund. Profits go back into the plan for the benefit of our members and can include offsetting future renewals, increased plan options or value-adds, and even potential refunds.
Our comprehensive medical and preventative care programs are “Designed for You,” offering a variety of health care, dental and pharmaceutical plans to keep your employees and their families healthy.
As a self-insured plan we are able to pool risk among our members providing greater buying power, increased access to benefit options, better rate stability and cost control.