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August newsletter

August 2020 edHEALTH newsletter

Find out how Salve Regina University has realized strong results and valuable HR support; the 5 reasons healthcare costs could accelerate and how edHEALTH is responding strategically; Boston Col...

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Salve Regina Realizes Strong Results and Valuable HR Support

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 stil...

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