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In a HIF, members have the ability to "control their own destiny":
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Each member entity appoints a Commissioner
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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
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Fund membership allows variations in coverages as needed:
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Introduction of more cost effective plan designs
- the Fund's various Choice Plus Plans
- customized Aetna US Healthcare QPOS Plan
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Operating costs are reduced as a result of:
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The group purchasing power of the Fund
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Elimination of insurance company profit margins
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Elimination of premium taxes
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Reduction in overhead expenses
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Cash flow is improved by:
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Paying only fixed plan expenses and only those claims that actually occur
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Earning interest on deposits until utilized
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Capping overall risk exposure at a manageable level
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As a paricipating employer in the Fund, you can:
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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
