Iowa Bankers Insurance and Services, Inc. offers a number of health plans through the Iowa Bankers Benefit Plan (IBBP) allowing employers to tailor their health care plans to their unique employee population. We keep costs low by effectively managing our loss exposure with proactive programs such as condition support and utilization management to control loss.
IBIS manages all the administrative functions for the health plan, including customer service. IBIS contracts with Wellmark Blue Cross Blue Shield for provider service contracting and claims processing.
The Iowa Bankers Benefit Plan
The features of the Iowa Bankers Benefit Plan include specific member liability for each of the plans available — the traditional plans and the HSA-qualified High Deductible Health Plans (HDHP).
- The plan offers access to an extensive provider network and the freedom to see any provider and still receive benefits. In Iowa, 100% of hospitals and 99% of physicians are in the Alliance Select Network, and nationwide more than 90% of hospitals and 80% of doctors are in the BlueCard out-of-state network.
- The plan provides direct access to any hospital or provider with no referral requirements.
- In-network providers offer lower out-of-pocket costs, file claims and fulfill notification requirements.
- The plan uses coinsurance:
- Employees enrolled in a traditional plan pay a certain percentage of the provider’s billed charge for office services up to the out-of-pocket maximum. For example, if the coinsurance is 10% for an in-network provider, an employee would pay 10% and the health plan would pay 90% for office-based services. Most other services are subject to a deductible (the amount that must be paid before insurance begins paying, for example, $1000 or $2000), and coinsurance.
- Employees enrolled in an HDHP pay 100% of the allowed amount for in-network providers up to the deductible/out-of-pocket maximum. The deductible is equivalent to the out-of-pocket maximum so the employee is not responsible for any coinsurance.
- The plan design includes coverage for preventive care, office visits, lab work and X-rays, surgery, hospital stays and prescription drugs.
- The prescription drug program provides access to a large pharmacy network that includes both national retail chains and independent pharmacies.
- Employees covered under the traditional plans have a prescription drug card program with a tiered copayment structure. This means the cost of the drug varies according to the tier the drug is on to encourage the use of generic or lower-priced drugs. Employees also have the option to fill prescriptions via mail service.
- Employees enrolled in HDHPs have a prescription drug card program integrated with the health plan, meaning all prescription costs are subject to the deductible/out-of-pocket maximum.
- The plan has no lifetime maximum for benefits.
Health and Wellness Programs
As health care costs continue to climb, the IBBP has implemented a number of strategies to empower our bankers to live healthy and productive lives that potentially can lead to lower health care costs. We have tools to encourage employees to participate in these programs, which benefit everyone.
Forms, Resources and Questions
If you’re enrolled in health insurance through the IBBP, you can access the summary plan description for your health insurance coverage, as well as related forms and other resources, by logging into the IBIS Group Benefits Portal.
To learn about your rights and protections again surprise medical bills, view Wellmark’s No Surprises Act Notice.
If you have questions about health insurance coverage through the IBBP, contact your IBIS territory representative at their direct number or email address, or contact IBIS Customer Service at (800) 258-1415 or benefits@bankers-ins.com.