Law firms of all sizes face challenges in offering their employees affordable health insurance. After receiving insurance-related inquiries from many members, the ISBA has partnered with Mercer, a national employee benefit consulting firm, to explore the possibility of offering an association health plan (AHP) for members. Creating an association health plan could allow members that are smaller employers to obtain coverage on terms similar to those currently available to larger employers.
As a first step in this process, the ISBA gathered relevant data about its membership via a short census questionnaire. The data collected via this census is being used to obtain quotes from multiple, large-group health insurance carriers.
Association health plans come with a number of benefits for participants. They include, but are not limited to, the following:
- Flexibility in plan offerings: Plans where each employer can select what works best for its employees (high deductible plans with HSA options or low deductible options, etc.).
- Affordable coverage: Creating an association health plan allows better positioning by pooling together for health insurance and creating economies of scale.
- Strengthen employer/employee relationship: Building longevity and loyalty within members’ law firms.
- Stabilize premiums: Annual premium rate fluctuations are less dramatic year from year.
1. What is an Association Health Plan (AHP)?
Association Health Plans (AHPs) are group health plans that associations sponsor to provide health coverage to their member's employees. AHPs allow for smaller employers to band together to purchase coverages that are typically only available to large employers resulting in a more competitive offering with coverage options that are tailored to the needs of the member.
2. Why are we evaluating an AHP offering?
- High demand from ISBA membership
- Providing access to competitive prices
- Expanding the value of services to ISBA Members
For more information related to Association Health Plans please visit the Department of Labor webpage at https://www.dol.gov/general/topic/association-health-plans