NCLifeSci launches health plan for life sciences members

The NC Life Sciences Organization Board of Directors approved an association health plan Nov. 13 aimed at providing life sciences member companies access to affordable group health insurance. Companies will be able to begin enrolling in the plan immediately. 

Cost Savings and Plan Options 

Early projections show the association health plan could generate substantial savings for many participating employers. One member company used as an example would benefit from potential annual savings of $152,940 across different coverage tiers, with possible cost reductions ranging from 7.4% to 14.8% compared to their current plan. 

Blue Cross Blue Shield of North Carolina will underwrite the medical, dental and vision program and offer multiple plan options, including high-deductible health plans (HSA eligible) and preferred provider organization structures with varying coverage levels: 

• Individual deductibles from $1,000 to $3,500 
• Family deductibles from $2,000 to $7,000 
• Coinsurance rates of 10% to 30% after deductible 
• Primary care copays of $25 to $45 
• Specialist copays of $35 to $70 

Marsh Agency (Marsh McLennan) is providing consulting and sales and service for the NCLifeSci association health plan and the participating groups. To secure a proposal, you can contact the NCLifeSci office or Sam Eller with Marsh Agency at 919-632-6211. Please note that you’ll need to provide census information and information about your current coverage, if any. 

Eligibility Requirements 

NCLifeSci’s life sciences member companies with an active membership qualify for participation in the health plan with two exceptions:  

• Companies that do not directly participate in the North Carolina life sciences industry, such as out-of-state companies without NC operations or support companies 
• Single-person companies 

Member companies were required to submit employee census data by July 11 in order to participate in the initial enrollment period. The census submission carried no obligation to enroll but helped establish the collective bargaining power needed to negotiate favorable rates with insurance carriers. Companies that did not submit census data during the collection phase may face ineligibility during the first program year. 

The association collected census information on all benefit-eligible employees and dependents from interested member companies to request group rates from health insurance carriers. 

Operational Structure 

The association health plan operates as a trust overseen by designated trustees. Laura Gunter and Patrick Jordan will serve as initial trustees, with one position remaining open. Marsh McLennan Agency will provide administrative support through its Association Center of Excellence.