When a decision must be made regarding our health insurance, we really can’t have too many options. Each of our situations and needs differ, and more options provide more opportunities to select a plan that fits us best.
Schools that participate in TRS ActiveCare haven’t had much control over the medical coverage options their employees have for quite some time, but new developments could provide an opportunity for schools to regain some of that control.
In this podcast, Russ Edwards, Consultant for Financial Benefit Services, lays out the medical plan options FBS has prepared for schools to offer alongside TRS ActiveCare.
Here are some highlights from the podcast:
What district can offer these alternative medical plans? (1:25) “Any district who currently has a district of innovation plan can amend that plan in order to allow a district to offer alternative benefits.” Russ also explains those who do not have a plan currently can put one in place.
Will these plans replace TRS ActiveCare plans for school districts? (2:50) “No, not at all. This is going to be an additional program, or several additional plans, alongside TRS ActiveCare. School districts, by law, still can’t get out of TRS ActiveCare…but can offer additional plans alongside TRS ActiveCare”
How long does the amendment process take? (3:35) “That normally takes somewhere around 45-60 days. Some school districts can it do it in 30, but 45-60 is a good timeline to go by, so there’s still plenty of time for districts to take advantage of this opportunity…The overall goal is to have something completed no later than July 1st.” Russ is talking about July of 2020, so changes can be put in place for 9/1/2020.
Excited about new medical plan opportunities for 9/1/2020? Listen to the podcast to learn of about the funding structures and plan types FBS can assist districts in implementing alongside TRS ActiveCare.