The Trust's Health Pool is designed to help Members better manage the rising costs of health care and improve the quality of life for Member employees and their families. In partnership with Blue Cross Blue Shield of Rhode Island (BCBSRI), the pool provides a comprehensive spectrum of health plan options that can be tailored, with different benefits, co-pays, and deductibles, to meet the diverse needs of Trust Member entities.
Members of The Trust's Health Pool enjoy the following benefits:
- COST SAVINGS - Lower premium levels than identical coverage purchased directly through BCBSRI created by preferential administrative costs through the power of large volume purchasing and an innovative approach to stop-loss insurance.
- HIGHLY FOCUSED HEALTH PLAN DESIGNS - The Trust offers its Members highly focused health plan designs that reward personal lifestyles that lead to better health and involve employees more in their medical care, particularly at the primary preventative level.
- HEALTHIER WORKFORCE - To achieve a healthier Member workforce, The Trust couples the Health Insurance Pool’s off-the-job wellness initiatives with the on-the-job occupational safety programs through the Workers’ Compensation Pool for a true 24/7 approach.
- PRESCRIPTION DRUG MANAGEMENT - The Trust works closely with BCBSRI to effectively manage the cost and use of prescription drugs.
- BUDGET CERTITUDE - Members receive a guaranteed, fully-insured premium rate. (The Health Insurance Pool itself, as a self-insured pool, absorbs the potential for adverse claims experience.)
- POOL SURPLUS BELONGS TO YOU, OUR MEMBERS - Health Insurance Pool Surplus belongs exclusively to the Member-Owners to use for rate stability and premium relief, or for other cost control strategies such as stronger wellness programs.
- SPECIALIZED CONSULTING & SERVICES - The Trust offers free consulting assistance in implementing special cost control strategies such as health savings accounts or health reimbursement arrangements. In addition to this consulting, the Trust also offers the below services:
- Underwriting and Financial Analysis
- Health and Wellness Programs
- Human Resources Services and Support
- AFFORDABLE CARE ACT (ACA) COMPLIANCE & ANALYSIS - With new reporting guidelines and fees in place for employers, The Trust provides a number of services to ensure that Members are aware of and educated about the relevant requirements:
- Summary of Benefits and Coverage (SBC) documents
- Detailed health premium summary by covered employee for a particular calendar year which supports the ACA requirement on W-2 forms (Members with at least 250 W-2’s)
- Analysis on fees relative to ACA requirements (Transitional Reinsurance Fee and PCORI fee are included in Trust premium billing rates, and The Trust, in turn, submits the ACA fee payments on behalf of its Health Pool Members)
- Group specific analysis and projected penalties on excise (cadillac) tax
- Guidance on reporting requirements due to Internal Revenue Codes 6055 and 6056 (IRS Forms 1094-C, 1095-C, 1094-B, and 1095-B)
- FINANCIAL SERVICES - The Trust internally generates monthly billing for the Health Insurance Pool and applies retroactive billing adjustments when necessary.