Contact: Cassandra Stalzer 907 334-0520
The Foraker Group offers a new health insurance option to Alaska nonprofits; Incentives from the Rasmuson Foundation will encourage early participation
Anchorage - The Foraker Group, along with the Rasmuson Foundation, unveiled a new health insurance program today that is designed to create a healthier nonprofit sector in Alaska. The program offers two options that will help expand coverage to underinsured individuals and families or those who currently have no insurance.
"This health insurance initiative is a first for any association in the Northwest, and possibly the nation," said Dennis McMillian, President and CEO of The Foraker Group. "The initiative provides very real financial incentives to promote healthier lifestyles. We know that healthier employees mean lower health care costs and higher productivity. We hope that ultimately our success will provide an example of how other business sectors can offer insurance for their employees at a stable, affordable cost."
A recent survey showed that 23 percent of Alaska adults are uninsured, above the national average of 20 percent. Alaska's nonprofit sector has struggled to attract and retain top-level employees because it has been increasingly difficult for them to offer adequate benefits, such as health insurance. More than 10 percent of Alaska's workforce is employed in the nonprofit sector.
Under the Foraker insurance initiative, two options are available – a high deductible plan ($1,500 deductible) with a health savings account (HSA), or a catastrophic indemnity plan ($2,500 deductible). Both plans offer options for preventive care and prescription benefits.
The high deductible/HSA plan is unique in that it requires the employer to contribute at least half the annual deductible level into an individual's HSA. Both options also incorporate an individual and family wellness program that is intended to reduce the need for medical care and keep down the cost of claims. The program is available through Premera Blue Cross Blue Shield of Alaska.
The Rasmuson Foundation is supporting the initiative through incentives that will encourage early enrollment by providing additional value to an employee's health savings account. It will also be used to enhance a comprehensive Health Risk Management (HRM) program and to manage and evaluate the effectiveness of the insurance plan.
In the coming weeks, The Foraker Group will begin working with its nonprofit partner organizations to get a minimum of 1,500 Alaskans enrolled in the insurance program by this fall. Learn more about the initiative at www.forakergroup.org.
About the Rasmuson Foundation
The Rasmuson Foundation was created in May 1955 by Jenny Rasmuson to honor her late husband E.A. Rasmuson. The Foundation is a catalyst to promote a better life for all Alaskans.
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