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No Rate Increase for Bethany Benefit Participants
CHICAGO, IL (October 29, 2005) - There will be no increase in 2006 insurance
rates for the Bethany Benefit Service plan administered by the
Evangelical Covenant Church (ECC), it has been announced.
"Rates will remain exactly the same as in 2005," reads an update report
distributed to plan participants last week. The Covenant benefit program
is available to employees of participating Covenant churches, regional
conferences, conference centers, camping ministries, Covenant
ministries, and pastors who work for voluntary employers of the Covenant
Pension Plan. Coverage includes medical, life, dental, long-term
disability, and prescription drug benefits.
The decision appears to run counter to a general trend by insurance
carriers to increase rates - many employers expect health insurance
premiums to increase an average of 9.2 percent this year, says Elliott
Johnson, ECC director of finance. "We work with a number of other
denominations, representing a pool of more than 250,000 employees, which
allows us to negotiate more favorable rates and coverage," Johnson says
in explaining how the Covenant avoided a rate increase next year. He
also cited a favorable claims experience rating on the part of plan members.
Another positive factor is the continued growth in enrollment as a
result of additional Covenant churches transferring into the Covenant
plan, due in large part to the favorable rates and coverages.
"Because we are able to hold our rate and experience no rate increase,
local Covenant churches and conferences will collectively save about $1
million that otherwise would have gone to pay for health insurance rate
increases, money that instead can be directed to other ministry needs,"
Johnson notes.
Covenant churches that are not currently part of the Bethany Benefit
Service plan and have an interest in joining should contact Randall
Jordan by email at randall.jordan@covchurch.org or by telephone at
773-907-3358.
Copyright © 2008 The Evangelical Covenant Church. |
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