$470+ million annual benefits budget
96,010 member lives
State-Wide Re-Insurance Fund for employee benefits
Solid financial performance and claim reserves, conservative underwriting and actuarial management
2.19 Average Rate Decrease over the last 5 years
Health Insurance JIFs N.J.S.A. 40A:10 - 36, 40A: 10-52
A HEALTH INSURANCE JIF IS A GOVERNMENTAL ENTITY REGULATED BY THE NJ DEPARTMENT OF BANKING AND INSURANCE THAT CREATES THE INFRASTRUCTURE FOR PUBLIC ENTITIES TO “SHARE SERVICES” FOR THE PROCUREMENT AND DELIVERY OF HEALTH BENEFITS .
A HEALTH INSURANCE JIF AND A PROPERTY & CASUALTY INSURANCE JIF ARE IDENTICAL EXCEPT ONE PROCURES HEALTH INSURANCE AND THE OTHER PROCURES PROPERTY/CASUALTY INSURANCE SCHOOL DISTRICTS, MUNICIPALITIES, AUTHORITIES, COUNTIES AND OTHER PUBLIC ENTITIES CAN BE IN THE SAME HEALTH INSURANCE JIF FURTHERING THE ABILITY TO CREATE LARGER PURCHASING STRENGTH
Why Health JIFs Work
By retaining the dollars you would otherwise pay an insurance company for routine benefits, you eliminate insurance company profit, reduce margin, overhead expenses, and applicable taxes that group insurance premiums include. These savings become available to help defray the expenses for claims and to pay the administrative costs for your program. The fund is owned and operated by its members and any surplus is returned to members in the form of dividends.
MRHIF Reinsurance Program Available coverage
Reimburses the MRHIF member (local HIF) for claims from any one person per contract year that exceeds its self insured retention “SIR”
Reimburses the MRHIF member (local HIF) for eligible claims for the entire group that exceed a predetermined amount, typically 120% of expected claims.
Dave Vozza is ready to work with you and help you navigate the program.