A larger pool provides more balance and less risk to an insurance company. Insurance Trust rates have stabilized. Before the trust, any school district could experience double-digit increases in any given year. Now, virtually every district in the program has seen a reduction in cost since joining and costs increasing at half the rate of surrounding non-member districts. An advisory committee is made up of one representative from each school district participating in the program.
Members meet quarterly to review new changes in the marketplace and look at new products.
They also participate in periodic evaluations and bidding for insurance providers and administrators. The trustees are the final decision makers and are also responsible for the program's finances, managing the Insurance Trust bank account and yearly audits. The Insurance Trust administrators provide the advisory board with options for insurance. They are familiar with the unique requirements of school employees and help design a program that meets these requirements. Frequently more than one vendor provides insurance, so administrators provide one point where all programs converge, tracking who's enrolled where and making sure each school district gets one bill.