Coverage Expands as Six Health Systems Combine
Borrowing a page from the plan announced by Amazon, JP Morgan Chase, and Berkshire Hathaway, six healthcare systems in New Jersey are joining their work forces to expand coverage to 50,000 employees and dependents under a single self-insured health plan. The goal of joining together is to reduce costs and improve access to high quality healthcare services for the employees of these six healthcare systems.
Coverage Affects Upper NJ
The six health systems: Atlantic Health System, CentraState Healthcare System, Holy Name Medical Center, Hunterdon Healthcare, St. Joseph Health, and Saint Peter’s Healthcare System are located in nine of New Jersey’s 21 counties, from central to northern New Jersey. They formed an alliance to pool resources and their employees into a single self-insured health plan. By doing this, they are looking to enjoy the advantages of larger numbers when providing insurance while offering a broad range of providers and facilities in about half of the state. They also expect to reduce their administrative fees associated with providing self-insured healthcare benefits.
They hope that they will serve as a national model for other self-insured employees and could be replicated throughout the country. This is a first for NJ and since Amazon, JP Morgan Chase. and Berkshire Hathaway are considered a leader as they join forces to provide healthcare benefits, one can assume that this has not been implemented on a large scale to date.