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Joint Purchase Education TrustBasic Information:
The Joint Purchase Education Trust (JPET) was kicked off in December of 2007 and provides low cost and discounted insurance through UnitedHealthcare to educational entities in Arizona. This trust was designed with intent to provide a membership benefit to charter schools that are members of the Arizona Charter Schools Association.
Products:
The trust provides medical, dental, life and critical illness insurance in a package format. Vision insurance is also available separately.
Medical:
All employees enrolled in a medical plan are automatically provided with $15,000 in life insurance and $5,000 in critical illness. The costs of these products are included in the medical rate. There are four available plans, of which, the employer may choose two to offer. The plans and benefit summaries are as follows:
1. Low Deductible: 1AM
2. High Deductible: 7AQ
3. Health Reimbursement Account: 7AM
4. Health Savings Account: 1AV
Dental:
There are three available dental plans, all of which may be offered to the employees by any participating school. The plans and benefit summaries are as follows:
1. Low Plan: P3813
2. High Plan: P3812
3. Any Dentist: P3811
Life and Critical Illness:
Along with the benefit included in the medical rates, voluntary life may be purchased and is guaranteed issue up to $100,000 for employees. Spouse life coverage can be purchased up to $10,000 and both of these benefits are charged based on age banded rates. Child life coverage can be purchase for $.60/month for a $5,000 benefit. Voluntary critical illness is also offered at $.98/month per $1,000 benefit. Download a Benefit Summary.
Participation:
All charter schools in Arizona are eligible to participate as well as other nonprofit schools. Every entity must be a member of the Association. The trust also has a requirement that a minimum of 75% of eligible employees be enrolled in medical and 50% enrolled in dental insurance.
Initial Enrollment Procedures:
JPET is based on the “plan year” and will commence the plan year on August 1, 2008 with a renewal on August 1, 2009. All schools are welcome to join the plan at any point during the year, but will renew with the trust on August 1, 2009.
UnitedHealthcare has implemented a tiered rating system for premiums to ensure that low risk groups are not subsidizing high risk groups. Each group must be submitted to underwriting for placement (see "Requirements for a Quote"). Placements and tiers are assigned based on regional costs of medical care and calculated value of risk that is determined by the age/gender factor of the group as a whole. Renewal tiers are calculated by the regional costs of medical care and the BCR%. The BCR% is a ratio of claims paid out to premiums paid.
Once a tier has been assigned, the school will use the applicable rates to gauge their decision in moving forward. A letter of intent, the trust and other necessary documents will need to be completed and submitted to the Association.
Each school that is enrolled in JPET will need to abide by the policies and procedures in place so that the Association, as well as United Healthcare can serve you best. Click here or more information on updates, terminations, COBRA and billing,
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