Student Health Insurance Committee
The RFP committee has received 4 proposals for Student Health Insurance. The committee is currently meeting to review these proposals. Upon contract award more details will be available at our website.
The Virginia Tech student health insurance program is being re-bid in January 2003.Virginia Tech (health care sponsor) will seek an experienced firm to provide a health insurance program, beginning in the 2003/04 school year. This proposal process will be a continuation of the current health insurance program the University has had and sponsored for some 50 years. The provider will offer insurance coverage for medical services to the University's students to include options for students to cover their spouses and minor children (dependents). This program will be renewed on an annual basis with the option to renew for up to 10 years.
For many years, the University has sponsored a healthcare plan, which has been made available to full-time students on a voluntary basis. G. M. Southwest/Clarendon underwrites the current plan which can be viewed at the GM SW web site.
The new program, as was the last, will be comprised of benefits requested by the participating majority of the student population. A committee has been formed to review the current benefits, to gather input from the students and to make recommendations to the Risk Management office on what the benefits should be for the next bid process. You may review the minutes from the meetings. Once you have reviewed that information, if you have comments or would like to have direct input as to what benefits you think should be offered you may email either the Fred Weaver or Alene Harris.
After this committee has completed its work, a Request for Proposal (RFP) will be developed by the Risk Management office. This proposal will be formulated during the month of December. After that, the RFP will be sent to any insurer that has indicated an interest in competing for this business. An RFP group comprised of two members of the Risk Management office and several members of the benefit committee will then review the RFP's, interview any contractors for further information and then make a recommendation to the University administration on contract award. This should occur during February and March with a contract to be awarded in March 2003. Stay tuned to this site for updates on the Request for Proposal process.
Your input is important! Please be on the lookout for open forums, which will allow any student to voice concerns or recommendations on the program. Also please check back to this web site as once a draft of the benefits recommended is developed, it will be posted on the web site for direct student input. Again, if you have comments on this process or would like to have direct input as to what benefits you think should be offered you may email either the committee chairman or a committee member.
During August and September of this year some 25,000 students were surveyed on their insurance needs. This information will be used by the benefits committee in their work. The survey results may be viewed here.
Did you know that Virginia Tech's plan ranks very favorably not only for the benefits offered, but for the premium cost as well? Click here to compare costs with other institutions?
As you review these premiums understand that while you may feel the insurance is very expensive the cost of medical procedures is even higher. If you were not insured, these procedures would be your total responsibility to pay. Click here to take a look at the costs associated some example medical procedures.
Remember, the insurance program sponsored by the University is for
the students. We need your input in order to ensure this program reflects
the benefits you want and premiums you, the student, are willing to
pay.