A Jointly Administered Self-funded Health Plan
The WAICU Benefits Consortium (WBC) was established by WAICU members in 2003. The WBC helps WAICU institutions offer enhanced benefits at lower costs than they could achieve on their own. The plan responds to members’ needs with patient advocacy and case-management initiatives and gives participating colleges and universities direct control of this burgeoning cost driver and essential humanitarian benefit.
In The Past 10 Years
More than
$200M
Covered medical, dental and vision benefits.
More than
$2.2m
Covered medical, dental and vision benefits.
3.4%
Average Premium Increase
Consortium A La Carte
Institutions may offer up to 4 plans
Individual In-Network Costs
| Deductible | Out-of-Pocket Max | |
|---|---|---|
| Gold Plan | $ 0 | $ 2,000 |
| Silver Plan | $ 250 | $ 3,000 |
| Bronze Plan | $ 1,000 | $ 5,850 |
| High Deductible Plan | $ 2,000 | $ 6,500 |
| HSA-Qualified Plan | $ 3,300 | $ 7,000 |
Why Join the WAICU Benefits Consortium
Financial stabilization:
- Risk is not pooled, but rates are set in aggregate, giving the group purchasing power to control administrative and reinsurance costs
- Improved rate predictability and more effective cost reduction strategies with a larger population
- The WBC is in an excellent financial position, is fully reserved, and operates in a strong surplus position
Efficient administration:
- One invoice for medical and pharmacy benefits, professional services, administration, and stop loss insurance
- Simplified and transparent budgeting (12 month “rates”)
- Professional management of compliance reporting, 5500 filing, PCORI fees, ERISA trust funds
Plan design flexibility:
- Option to keep your current plan design and contribution structure
- Network: UnitedHealthCare
- Pharmacy benefit manager: CVS
