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EPC Benefit Plan Basics
The
EPC Benefit Plans started in 1983 with a health
insurance pool. We have grown into self funded plans
for medical, dental and vision covering over 10,000
employees. We also offer a life insurance program
through Met Life.
Over the years, the EPC Benefit Plans
have become the most economically efficient way to
provide a quality benefit plan for employees. Through
self funding we have reduced the administrative cost of
insurance to the lowest possible level. By offering
in-house consultation services, we eliminate the need
for broker and consultant fees. Self funding also means
that in good years, surplus premium stays with the
Trust, not with an insurance company. This has enabled
us to provide premium holidays for both the dental and
vision plans and to reduce renewal increases for the
medical plans.
The EPC plans also provide the most
district flexibility at the lowest cost. Specific plan
design elements are negotiated at each district working
within a general plan framework.
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EPC
Benefit Office Services
The EPC Benefits Office provides all
the services of an insurance broker without the cost.
We regularly meet with districts to review their benefit
programs and to develop plan designs. We make
presentations to both sides of the table during
negotiations to help districts develop the best plan for
their financial needs. We keep the plans current with
all Federal regulations such as HIPAA and we provide
seminars for districts in HR topics such as FLMA and
COBRA. We are here to assist in all elements of Benefit
Plan administration from eligibility questions to
claims.
The EPC
Benefit Plan Trust
The EPC Benefit Plan is governed by a
Trust agreement and a Board of Trustees elected by
participating districts.
Renewal Calculations
Due to the size of our group, our
renewals are based solely on our claims. Expected
claims are projected using current inflationary trend
and a renewal rate change for the pool is calculated.
Every other year this percentage change is applied to
all districts.
In the alternate years districts are
reassessed individually to make sure rates are in line
with average claim costs over the last two years. This
gives all districts the advantage of the low group
administration cost while allowing them the freedom to
negotiate to different plan designs.
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COBRA Administration
The EPC provides free COBRA
administration for districts in the Benefit Plans. At
the time of a Qualifying Event, the district simply
fills out a form and mails it to Infinisource, our
COBRA administrator. Infinisource mails the initial notice,
and all subsequent COBRA activity is handled between
Infinisource, the qualified beneficiary and the EPC.
Infinisource
also mails the COBRA and HIPAA notices to new employees.
Joining the EPC Benefit Plans
EPC member districts can request a
rate quote for any or all of the benefit plans at any
time. Please contact Barbara Coriell at
ep_benefits1@mdeca.org .
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