AMHIC, A Reciprocal Association

The Executive View

AMHIC is owned and governed by its participating organizations. Founded by the American Council on Education and 12 other higher education associations in 1989, AMHIC understands the culture of not-for-profit organizations and can meet your association's benefits needs. Whether your organization is large or small, we know that attracting and retaining employees by offering exceptional benefits is a high priority. With four health insurance plans, AMHIC is a very flexible, cost-effective choice for not-for-profit organizations in Washington, D.C.

1) What is the history behind AMHIC?
2) How is AMHIC governed?
3) How is AMHIC managed?
4) What is the financial stability of AMHIC?
5) Is AMHIC a for-profit or not-for-profit company?
6) What kind of rate increases has AMHIC had?
7) What kind of benefits does AMHIC offer?
8) Does AMHIC cover retirees or domestic partners?

 

1) What is the history behind AMHIC?
AMHIC was started in 1989 through the collaborative efforts of the higher education association community to achieve these goals:
  • • offer flexible and comprehensive benefit plan designs;
  • • provide not-for-profit organizations access to affordable health insurance coverage;
  • • achieve cost stability through increased spread of risk.

2) How is AMHIC governed?
The AMHIC Board of Directors consists of Directors elected by the members of AMHIC. Board members include CEOs, CFOs and outside experts.

3) How is AMHIC managed?
The board contracts with several outside firms to provide the following services:
  • • Captive Managers - Palmetto Consulting, LLC
  • • Actuarial - Willis Towers Watson
  • • Administrative Operations - Select Benefit Plan Administrators (SBPA)
  • • Audit - Johnson Lambert & Company, LLP
  • • Bookkeeping - Chazin and Company, LLC
  • • Claims Processing - CareFirst Administrators and Kaiser Permanente Insurance Company
  • • Investments - UBS Financial Services, Inc.
  • • Legal - Nelson Mullins Riley & Scarborough, LLP
  • • Liability Insurance - Novick Group, Inc.
  • • Group Service - SIG (Silberstein Insurance Group)
  • • Reinsurance - HM Life Insurance Company and Kaiser Permante Insurance Company

4) What is the financial stability of AMHIC?
AMHIC is a financially healthy plan with net assets of over $8 million.

5) Is AMHIC a for-profit or not-for-profit company?
AMHIC is a for-profit company that operates like a not-for-profit. The Board of Directors can return revenues to member organizations in the form of lower premiums, increased benefits, dividends or subscriber allocations.

6) What kind of rate increases has AMHIC had?
Rate increases have been very stable at less than 10% over the last three years.

7) What kind of benefits does AMHIC offer?
AMHIC offers the following:
  • • Medical
  • • Dental
  • • Vision
  • • Life
  • • Pre-paid Legal
  • • Employee Assistance Program
  • • Flexible Spending Account
  • • Health Savings Account
  • • Webinars/Seminars
  • • Cobra Administration
  • • Health Advocacy Support for members of PPO, Network Only, and QHDHP plans

8) Does AMHIC cover retirees or domestic partners?
AMHIC covers retirees as long as the participating association has a written post-retirement health policy in compliance with AMHIC guidelines. Domestic partners are covered as long as the domestic partner completes the appropriate paperwork.

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