Northeast Iowa Schools Insurance Trust

Northeast Iowa Schools Insurance Trust
Welcome to the Northeast Iowa Schools Insurance Trust. The information found on this site will help to inform you about the benefits offered for your health insurance plans, life and disability insurance benefits, and other benefit information useful for you and your family through Midwest Group Benefits, Inc. who serves as your NEISIT Consultant and Administrator.

 A Midwest Group Benefits staff member can be reached toll free at 800-344-3766 or by email:  info@midwestbenefits.com

History of the Northeast Iowa Schools Insurance Trust

History of the Northeast Iowa Schools Insurance Trust
The Northeast Iowa Schools Insurance Trust began with a single school - the Allamakee Community School District during the 1986-1987 school year. Dr. Joseph Schmidt was the Superintendent of the Allamakee Community School District.  It was the goal of Dr. Schmidt to offer this opportunity to the rest of the Northeast Iowa Conference Schools for that year. Three schools - Decorah, Howard-Winneshiek and Oelwein joined with Allamakee to make up the Schools Insurance Trust. At that time two trustees were employed to manage the program. It was their decision to consolidate the four existing programs into one package - taking the best parts of each program into a self-funded health plan.

After remaining at four until the 1997-1998 school year, NEIC Insurance Group added Starmont to the program during the 1998-1999 school year. During that time other schools were contacted and four more schools were added for the 1999-2000 school year - making a total of nine schools. The new schools were Eastern Allamakee, New Hampton, North Fayette and Postville.

The Board decided in July 2002 to change the Third Party Administrator from CDSI to the current TPA, Midwest Group Benefits.

During the 2004-2005 school year NEISIT allowed North Winneshiek and South Winneshiek to join the group. The following year Turkey Valley was added. This brought the total to 12 schools in the trust.

During the spring of 2008 the board decided to look at consolidating the number of plans. They set up a steering committee and they recommended to reduce the number of plans from 9 to 3. They also recommended getting quotes for self-funded, partially self funded and fully insured plans. The Trust's Board of Directors elected to terminate the self-funded health plans, effective, July 1, 2009.  The health plans for the NEISIT were changed to partially self-funded plans, using fully insured health plans through Wellmark  Blue Cross/Blue Shield.  Midwest Group Benefits, Inc. was retained as the administrator for the partial self-funding.

Eastern Allamakee and Turkey Valley decided to leave the trust as of July 1, 2009. So the trust currently consists of 10 schools.

The current Board consists of the 10 Superintendents who are also the Trustees of the Trust.  Each Superintendent serves a one year term as the President of the Trust, rotated alphabetically by school.  Midwest Group Benefits, Inc. serves as the Trust Consultant and Administrator.  Each year it is the responsibility of the Board to determine the benefits, rates, third party administrator and fully insured carrier.

As a result of moving to partial funding in July 2009, the Trust has maintained a healthy fund balance and reserve.  Due to their size and the partial funding, the Trust is able to design and administer benefits that accommodate the needs of the Districts.
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