20 MAY / JUNE 2021 PSP SHOWCASE Shawn M. Norris Vice President NFP Registered Health Underwriter and Chartered Healthcare Consultant IBA Group Insurance Trust shawn.norris@nfp.com IBA Group Insurance Trust is a Preferred Service Provider of the Indiana Bankers Association, and NFP is an IBA associate member. Providing Stability In a time of uncertainty To say that the year 2020 was challenging and unprecedented in our lives would be an understatement. With the onset of a global pandemic and election fervor, it was certainly a year to remember (and for some to forget). It is in times like these that stability provides the strength needed to weather the events surrounding our lives and businesses. Financial institutions were essential for helping their business and individual clients maintain stability throughout the pandemic that still overshadows us today. These same financial institutions are now looked to by their associates to ensure they have health insurance coverage that will protect them from the unknowns of COVID-19. For participating member banks, the IBA Group Insurance Trust has helped provide this stability to members in light of the many factors surrounding health insurance costs and coverage. With the size and scope provided by the 45+ participating member banks, the Trust has remained strong and has provided average renewals for the 2021 plan year well below national averages. This follows a year in which all participating banks received a reduction in their health plan costs. For the 2021-22 plan year, participating member banks will have access to additional resources and cost savings for their associates. Some program examples are: • Specialty copay assistance program – For eligible members, this copay assistance will cover most, if not all, out-of-pocket expenses for specialty medications. • Omada Health – This is a digital health solution focusing on prevention and assisting members with diabetic and hypertensive conditions. A personalized program with one-on-one health coaching is available at no extra cost for members. • Employee engagement and well-being – One of the biggest challenges plaguing human resource departments today is delivering an economical, comprehensive, total engagement solution. The PeopleEQ Platform addresses these challenges by strategically combining an employer benefits and communication hub with an employee resources dashboard plus lifestyle well-being programs, with the result of creating a cost-effective, comprehensive and engaging platform. • Ancillary coverage – For new and existing member banks, a change in providers for ancillary coverage (life, disability, worksite) will produce significant cost savings and provides new value-added programs such as an employee assistance program, ID theft credit monitoring solutions and more. All of these solutions have one common goal: to provide your associates with the tools and resources they need to better manage their healthcare needs. The IBA Group Insurance Trust remains committed to providing emerging and relevant resources to continue providing long-term stability during these volatile times. For further information regarding the IBA Group Insurance Trust, contact Shawn Norris of NFP at shawn.norris@nfp.com or 812-422-4000, or Rod Lasley of the Indiana Bankers Association at rlasley@indiana. bank or 317-387-9380. HB
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