New Health Insurance Consortium benefits Lenawee County by an Estimated Savings of 2.7 Million Dollars Under the management of the Lenawee Intermediate School District, stakeholder groups representing our Lenawee County public schools recently formed the Lenawee County Insurance Consortium (LCIC). The participating districts have agreed to collectively purchase their health insurance plans through the LCIC. The consortium concept was designed to save money in local districts on the health insurance premium cost. The majority of the savings realized was expected to provide premium co-pay reductions to employees, rather than saving district premium cost. However, the success of the LCIC in achieving lower premium costs on the insurance plans offered has resulted in annual costs being below the State of Michigan employer cost caps. Therefore, some savings for the school districts has been achieved beyond the savings to employees that were paying premium co-pays. Dan Garno, LISD Executive Director of Staff Resources, said “with the current districts and employee groups enrolled in the LCIC, it is estimated that employees throughout Lenawee County will save as much as $2.7 million over the next year in premium co-pay reductions”. Garno also said “the Consortium would not have been possible without a willingness of stakeholders to come together to work on this initiative. Participation by public school districts employees, their district school boards, representatives from the public school education associations, MEA, and the participating insurance companies, made this opportunity to save employees significant dollars a reality. We are especially pleased that the LCIC is one of only two such successful public school consortiums in the State of MI” . These savings will now stay in employees paychecks and be available to be spent at their discretion, which could be a significant financial benefit to Lenawee County as a whole. The LISD is excited to provide this collaborative opportunity for all Lenawee County public school districts.
Posted on: Fri, 26 Jul 2013 11:41:51 +0000
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