MISBO/ISBC Health Insurance Program

The MISBO/ISBC Health Insurance Program was established in 2013 to bring the consortium benefits to MISBO members through dedicated broker partners in the following states: GA – Pritchard & Jerden; FL – Oswald Companies; NC – Senn Dunn Insurance; TN – The Crichton Group; TX – Wortham Insurance & Risk Management.

The Independent School Benefits Consortium (ISBC), founded in 2003, serves independent schools of all sizes and offers Medical & Rx, Dental, Employee Communications & Education, Health Management Services and Wellness Programs. Built on the foundation of enhanced choice, price and service for independent schools, the MISBO/ISBC Health Insurance Program is designed to improve carrier leverage, rate stability, benefits options, customer service and strategic planning for MISBO members.

How Does This Work?

The ISBC was created by your fellow independent school leaders, exclusively for independent schools, in response to rising cost of healthcare and the desire to take control of their health insurance spend. It is an employee benefit solution that focuses on cost control through an innovative funding arrangement and cultivating a healthy work environment. This program enables schools to have flexibility of plan design, full transparency of claim utilization data and incorporates cost saving opportunities through wellness incentives. Core features include technology resources for plan administration, employee engagement, enrollment and compliance services.

ISBC has a track record of performing significantly better than industry standards. In an environment where inflation for medical & Rx cost has been low to mid-double digits, since 2010 the ISBC average annual cost has increased only 5.8%. In 2014 the ISBC transitioned to a funding arrangement that allows schools to keep 100% of unused claim dollars. Over the past 24 months overall actual cost has remained flat. Additionally, for the 2015 plan year member schools will share proportionately over $800,000 of underwriting surplus.

Regardless of when your current plan renews you are able to join ISBC at any time. All fully insured plans are 30-day contracts which means you can terminate that plan with 30 day notice to your carrier. Although the renewal date for the ISBC is January 1st, the program has flexible effective dates so you can join at any point during the year.

Contact Kurt Meinberg, Team Leader ISBC, Oswald Companies at 216.658.5034 or at kmeinberg@oswaldcompanies.com for more information.

Read more about the program here.