Fund Overview

  • Paul Laracy, Executive Director

    Public Entity Risk Management Administration (PERMA)


    MRHIF and the North Jersey Municipal Employee Benefits Fund

About the NJMEBF

The North Jersey Municipal Employee Benefits Fund (NJMEBF) was formed under NJSA 40A:10-36 et seq, which allows two or more units of government to form a joint insurance fund for the purpose of group purchase/self-insurance against claims for various property and casualty type coverages. Amendments to NJSA 40A 10-36 et seq were enacted November 30, 1990 to expand the risk that a joint insurance fund may insure to include contributory and non-contributory group health insurance. The rules governing the operation of a joint insurance fund for local governmental units, providing group health and term life benefits, were effective July 19, 1993 NJAC 11:15-3 et seq.

How The NJMEBF Benefits Employers

By retaining the dollars you would otherwise pay an insurance company for routine benefits, you eliminate the profit margin, overhead expenses and applicable taxes that group insurance premiums include. These savings become available to help defray the expenses for routine claims and to pay the administrative costs for your program.

Benefits of a Health Insurance Fund (HIF)....

  • In a HIF, members have the ability to "control their own destiny":
    • Each member entity appoints a Commissioner
    • Services are "unbundled" and contracted for: most effective Third Party Administrator (TPA)
      • best network in the region
      • flexibility of plan designs
      • support provided by Fund professionals
  • Fund membership allows variations in coverages as needed:
    • Introduction of more cost effective plan designs
      • the Fund's various Choice Plus Plans
      • customized Aetna US Healthcare QPOS Plan
  • Operating costs are reduced as a result of:
    • The group purchasing power of the Fund
    • Elimination of insurance company profit margins
    • Elimination of premium taxes
    • Reduction in overhead expenses
  • Cash flow is improved by:
    • Paying only fixed plan expenses and only those claims that actually occur
    • Earning interest on deposits until utilized
    • Capping overall risk exposure at a manageable level
  • As a paricipating employer in the Fund, you can:
    • Contain your health benefits cost
      Save money by reducing the expenses included in the premiums that would otherwise go to an insurance company
      Improve your cash flow by paying only fixed plan expenses and only those claims that actually occur
      Earn interest on deposits until utilized
      Save additional money when claims are lower than projected in a plan year
      Cap your overall risk exposure at a manageable level
      Provide long-term stability in your health benefits program costs

We welcome the new Chairperson Mayor Jon Dunleavy, Borough of Bloomingdale

We look forward to working with Mayor Dunleavy in his new role, we know he will bring great new ideas to the fund.

We would like to thank Marianne Smith for her years of service in this role and wish her well in her new ventures.

  • © 2003 - 2018 North Jeresey Municipal Municipal Employee Benefits Fund

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