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NEEBC Honors EdHEALTH with an Emerging Benefit Award

The New England Employee Benefits Council (NEEBC) awarded the higher education member owners of Educators Health (edHEALTH), an emerging benefit award.

The award will be presented at NEEBC’s annual Best Practices Conference in December.

Olin College is one of the founding member owners of edHEALTH, which is an innovative health insurance program started by colleges and universities in Massachusetts in mid-2009.

At that time, 22 private colleges and universities in the Commonwealth joined forces to combat the rising cost of health insurance and create one of the country’s first group health insurance programs of its kind. EdHEALTH officially launched in July 2013 and provides a self-insured program for each member, backed by a stop-loss program to cover unusually high claims.

“We are delighted that NEEBC recognized edHEALTH with an emerging benefit award,” said Sharon Woodward, director of human resources at Olin College. “As a human resource professional I have seen first hand the tremendous value our member employees derive from edHEALTH.”

Since the initiative began, the colleges, as a group, have saved approximately $30 million and limited average insurance premium increases to less than one percent, compared with seven to nine percent increases nationally, according to Tracy Hassett, president and CEO of Educators Health.

EdHEALTH covers close to 20,000 employees and their families at colleges and universities in Massachusetts and Rhode Island. Currently the member/owner institutions are: Berklee College of Music, Boston College, Brandeis University, Emerson College, Lasell College, Olin College, Regis College, Salve Regina University, Wellesley College, Wentworth Institute of Technology, Wheaton College and Worcester Polytechnic University.

NEEBC is the premier association in the New England region for employee benefits professionals.