Nearly 70 school districts and education cooperatives will comprise the health fund in Fiscal Year 2019.
The South Dakota School District Benefits Fund retained 100 percent of its membership – marking the second straight fiscal year the fund retained every member – AND added 14 new members to bring the total number of participants to 67.
“The program is promoting itself and all the credit goes to our current membership for the growth of the fund,” ASBSD CFO and Protective Trust Director Matt Flett said.
“The Association and the Trust have not been actively marketing the fund, but the new school districts have been reaching out to us based on the great things our current members are saying about the fund.”
The additional members raise SDSDBF’s annual contribution generation to $50 million.
“Our health fund is by far the largest self-insured health benefits fund catering solely to South Dakota school districts,” Flett said.
“Some of the largest school districts in the state trust us with administering their health benefits and the additional school districts, along with their corresponding individual lives, increases the size of and strengthens the fund’s stability, which is already stable, through the law of large numbers.”
Most importantly, SDSDBF will now provide comprehensive health benefits to an estimated 4,400 employees and approximately 8,000 total lives.
“People aren’t restricted in our fund by having to pick either Avera or Sanford Health system, but rather provided the opportunity to receive care at both.”