Health Solutions for your Business
SystemsPlus Health allows NSCA members to obtain preferred-group pricing, ensure coverage availability, stabilize costs and design an insurance program to fit your needs.
What is SystemsPlus Mutual Insurance Company?
SystemsPlus Mutual Insurance Company (SPMIC) leverages the size of NSCA’s membership to reduce the overall cost of health insurance for its members. As a mutual insurance company, SystemsPlus credits a portion of its net profits back to its policyholders, while also acting as a self-funding conduit to pay the costs of members’ claims and related administration fees. The company is a self-funded health benefits program exclusively for NSCA members.
Bethesda, MD-based Coventry Health, SPMIC’s partner and reinsurer, assists in delivering this self-funded health insurance program. Coventry Health specializes in managing healthcare plans for small and medium-size companies, and maintains one of the nation’s largest PPO networks.
Why should I participate?
As a mutual insurance company, SPMIC is owned by participating policyholders, which allows you to:
- Earn “premium credits” for future years
- Reduce overall risk
- Implement unique wellness initiatives to increase the potential to earn premium credits
- Receive enhanced financial reporting of your benefits program
How does it work?
SPMIC leverages the collective purchasing power of the NSCA membership and allows for some unique plan design features not available in the standard health plan marketplace. By pooling the size of the NSCA membership, each member firm will be able to enroll in a self-funded plan with stop-loss coverage provided by SystemsPlus.
What if we spend more or less than our yearly premiums?
If you have a claims year where you spend more than your premiums, the excess claims are paid by SystemsPlus. Each plan will have an insurance policy protecting the plan against large losses.
However, with good claims experience, SystemsPlus policyholders may be eligible for a premium credit, something unheard of in the traditional fully-insured health insurance market.
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