News

Title
Salve Regina University
Salve Regina Realizes Strong Results and Valuable HR Support
Aug 25

With compensation and benefits comprising 60% of Salve Regina University’s budget, Vice President for Administration and Chief Financial Officer, William Hall is always evaluating ways to keep costs in check while continuing to attract and retain top-notch faculty and staff. In the late 1990s he  moved the health insurance benefits from an insured to a self-insured program where the university takes the responsibility for paying medical claims plus stop-loss to protect against high-cost claims. This approach creates the lowest possible administrative costs and means that the employer isn’t paying profits on top of claims. This was a bold move, especially at the time, as some small colleges and universities worry about the higher risk of a self-insured arrangement.

“We were already self-insured and had been pleased with that decision,” said Mr. Hall. “However, healthcare costs were still having a negative impact on Salve Regina’s bottom line, so we were seeking a solution to the rising cost conundrum.” Salve Regina University became aware of edHEALTH through the Boston Consortium, which fosters collaboration between higher education institutions. The school had a positive experience with the organization’s Risk Management Group, and began to explore how banding together with other higher education institutions might make sense for their healthcare program.

A disruption analysis found that by moving to edHEALTH, Salve Regina would:

  • Save money on faculty and staff healthcare costs;
  • Pose minimal benefit design disruptions; and
  • Maintain employees’ access to their doctors and hospitals.

Strong Results

Salve Regina University joined edHEALTH effective January 1, 2016. The corresponding results have been outstanding.

  • 18% reduction in administrative rates
  • 5% decrease in stop-loss rates
  • Savings enabled university to provide one month of free employee healthcare premiums
  • Four-year cumulative healthcare rate increase of 10.8%, markedly better than the industry average of 31.1%

“The money Salve Regina has saved on healthcare costs through edHEALTH has been greatly beneficial to our bottom line,” said Mr. Hall. “Through the edHEALTH model, we work directly with plan administrators to offer attractive benefits, a broad provider network, and comprehensive coverage to our faculty and staff.”

Employee Satisfaction and Valuable HR Support

Employees have been satisfied with their benefits, and the HR staff has welcomed the collaboration benefits of edHEALTH. “Overall, our employees are happy with their healthcare plan design options,” Claudia Cavallaro, Associate Director for HR and Benefits. “It’s a pleasure to work with the entire edHEALTH staff who are knowledgeable, friendly and responsive!” Upon the onset of the COVID-19 crisis, edHEALTH implemented frequent virtual meetings to help schools share ideas and learn from one another. “Sharing information and best practices to navigate during these uncertain times has been especially valuable,” said Nancy Escher, Director of Human Resources.

Actuaries’ Advice: Don't Leave Money on the Table

Nov 10
Don't Leave Money on the Table: Self-Insurance Saves Money

Educational institutions with fully insured health insurance arrangements for their employees are leaving money on the table, according to Steven Keshner, Se...

Continue Reading

How Does HR's Role Become More Interesting and Rewarding After Joining edHEALTH?

Mar 17
Human Resources

Time – it often seems like there’s not enough of it to get everything we want to do completed. College and university Human Resources departments are especia...

Continue Reading

Passionate About Football - Tracy Hassett Shares Everyday Lessons for edHEALTH

Mar 17
Tracy Hassett and Tom Brady

edHEALTH’s President and CEO, Tracy Hassett, has been an avid football fan since she was young. It’s a sport she’s shared with her dad over the years. They w...

Continue Reading

Advisors Collaborate With edHEALTH Team to Identify Solutions for Their Clients

May 13
Advisors partner with edHEALTH for their clients

Savings Drive Consultant Recommendations to edHEALTHThe primary reason a health insurance consultant recommends edHEALTH to their higher and secondary educat...

Continue Reading

2020 in Review and Looking Ahead

Jan 13
Polina Kovaleva 2021 image

Dear Colleagues,Finally, it’s 2021!What a challenging year 2020 was for the education industry. COVID-19 placed immense financial burdens on educational inst...

Continue Reading

How to Unlock Additional Savings if You’re a Go-it-Alone Self-Insured Healthcare Purchaser

Apr 14
Wentworth Institute of Technology

Wentworth Institute of Technology VP of Finance and Consultant Share Their AdviceSelf-insurance wasn’t a novel approach for Wentworth Institute of Technology...

Continue Reading

Did You Know That All edHEALTH PPO Members Enjoy Access to In-Network Providers?

Apr 14
Member School employees have access to providers nationwide

Did you know that all member school faculty and staff have access to in-network healthcare providers regardless of where they live? Employees enrolled in any...

Continue Reading

Why Vermont? edHEALTH’s Captive Management Leader Explains the Benefits

Oct 7
David White

Inquiring minds want to know: Why is edHEALTH’s stop-loss subsidiary, Educators Health Insurance Exchange, based in Vermont? David White, Vice President for ...

Continue Reading

Reluctant to Join a Captive? Take the Jump - it's Worth it says Boston College Financial VP

Feb 8
How captive insurance compares with normal insurance

You may hear the word “captive” and get nervous. What is it and what’s the risk? Not only are captives not scary, they also provide added value to a go-it-al...

Continue Reading

April 2021 edHEALTH Newsletter

Apr 15
Spring 2021

Find out:How to Unlock Additional Savings if You’re a Go-it-Alone Self-Insured Healthcare PurchaserInformation on edHEALTH’s May 26 Thought Leadership Semina...

Continue Reading

Protect Yourself and Others - Get a Flu Vaccine

Jan 11
Why and where to get a flu vaccine

How Walking Helps Keep the edHEALTH Team Sane and Healthy

Feb 8
Walking is Keeping Us Sane and Healthy

Although it’s cold, walking is a safe exercise option during the pandemic so the edHEALTH team is making a point of getting outside. We’re finding it’s good ...

Continue Reading

Share-it Employee Engagement Communications

May 6
edHEALTH employee engagement share-it communications

edHEALTH provides share-it employee engagement communications to help member school employees navigate and maximize their healthcare benefits. Check out thes...

Continue Reading

February 2021 edHEALTH Newsletter

Feb 10
February 2021 news

Find out:How partnerships and collaboration are helpful strategies during the crisis and beyond – from the “Chronicle of Higher Education”Boston College’s Fi...

Continue Reading

COVID-19 Vaccine Tools for Employees

Mar 16
COVID-19 vaccine

Informational Videos to Share with Faculty and StaffThe National Alliance of Healthcare Purchaser Coalitions, to which edHEALTH belongs, has created a COVID-...

Continue Reading

New Lunch and Learn Series Help Faculty and Staff Improve Their Own Well-being

Mar 17
Lunch and Learn program

edHEALTH recently launched a new complimentary Lunch and Learn series hosted by WorkPartners for member school faculty and staff. These one-hour virtual prog...

Continue Reading

Why is it a Challenge to Control Rising Healthcare Costs? It's the Prices

Mar 17
Prices are to blame for rising healthcare costs

The U.S. is spending nearly 20% of its Gross Domestic Product on healthcare services, which crowds out other needed products and services. Most other countri...

Continue Reading

March 2021 Newsletter

Mar 18
March 2021 Newsletter

Find out:How HR's Role Become More Interesting and Rewarding After Joining edHEALTHWhy it’s a Challenge to Control Rising Healthcare CostsDetails on New Comp...

Continue Reading

3 Steps to Find Out How Much Your School Will Save on Employee Health Benefits

May 13
Nancy McConaghy

There’s new urgency in finding ways to cut spending at higher education institutions and secondary schools. Compensation and benefits generally comprise at l...

Continue Reading
Top shadow

Contact Us

866.692.7473

Contact edHEALTH today for more information.