The 2019 Renewal is here! The BCBS INSURANCE TRUST FUND received an excellent, 8% RENEWAL. New HMO options have also been added to enhance the offering, with prices below current levels! Palm Beach County Medical Society (PBCMS) offers an exclusive, association-type health insurance opportunity to physician practices in Palm Beach County. The plans provide affordable health insurance to member EMPLOYER-physicians, their fulltime employees and their families. It offers comprehensive plans and a range of benefit levels. The Trust Plans are a Co-Op/Association type plan, where the members merge assets together to create a larger group. For over 30 years, federal laws and regulations allow for employers and “groups of employers in the same profession” to form a “NOT FOR PROFIT” Trust for employee benefits. This is best known as a “Co-Op,” according to the Florida Bar Association. The MCMS, Inc. Insurance Trust Fund was created in 1981 as such a Co-Op, but only for Physicians (and their employees) in Private Practice. Under the Co-Op’s agreement with Florida Blue, physicians have no risk for excessive claims, and they share in underwriting surplus profits. At a
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Q3 2019 • OnCall
Jeremy Cohen Senior Group Benefit Agent
time when many doctors are concerned about rising operational costs — including employee health coverage — Co-Op participants are reaping the benefits of a group insurance plan that rewards the physicians and their families, as well as practice employees and their covered dependents. Medical practices in 10 Florida counties have shared in a profit of more than $2.3 million since joining with members of other local medical societies to form a single, large group insurance plan with Florida Blue. Through this thriving health insurance Co-Op, participating physicians are sharing major profits, saving money and offsetting future rate increases. The Trust Plans have both traditional plans and High Deductible Health Plans (HDHP), which use Health Savings Accounts (HSA). Most plans are BCBS Blue Options Network plans (Their allencompassing national/international network). Two new HMO plans have become available, to enhance the overall offering.