Altoona, PA - Blair County Pennsylvania Links
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Bankers Association Offers Health Care Purchasing Consortium To Member Banks
11/07/2007 7:45 am
The PBA Service Corporation (PBASC) announces the recent launch of a new health care funding program for Pennsylvania financial institutions. The consortium, formed in alliance with L.R. Webber Associates, Inc. and The Benecon Group, two leading Pennsylvania employee benefits consulting and administration firms, enrolled the first group of PBA members enrolled in the consortium July 1, 2007.
The initial open enrollment entry dates were July 1- October 1. The Consortium will enter into 2008 with approximately 1,700 lives enrolled. These numbers are an impressive start for this innovative program.
The PBASC Health Care Consortium offers a unique health benefit funding arrangement for banks across the state to collectively purchase health insurance for their employees and family members. Participating banks are afforded benefit plan design flexibility and significant cost control through this proprietary consortium funding model. The model allows customized benefits and provides long term rate stability.
Barbara W. Holbert-Managing Director & Insurance Officer, PBA Services Corporation said, “Working with Webber and Benecon, the health insurance consortium model has provided the PBA Services Corporation with a valuable benefits funding solution for Pennsylvania banks. This program allows banks to have greater control over their health benefit offerings, while providing them the ability to have direct impact on their health insurance costs. The consortium model is an exciting, innovative and disciplined approach for the future of health care funding of community banks.” |
Source: Altoona.com
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