Celebrating Our 8th Year of Service to Private Florida Education Employees

The purpose of ICUBA, as a health care cooperative, is to pool the purchasing power of its member schools to reduce the associated costs of insurance, administrative fees, broker commissions, and consulting fees. Currently, individual institutions that are members of ICUF or FCIS are taking advantage of the benefits that 4 out of 5 large U.S. employers are already practicing -- self-funding of their health care benefits on a nonprofit basis. 

Mission Statement

The Mission of ICUBA is to Provide High Quality, Cost Effective Health and Welfare Benefits to Our Members Through Collaboration.

ICUBA exists to:

• Pool purchasing power to reduce admin fees, commissions, premium taxes and high margins of insurance company fees
• Achieve excellence in the delivery of benefit plans of the highest quality
• Focus on quality management
• Offer access to high quality providers and health care treatments
• Promote the health & well-being of members
• Provide Value Based Medical and Pharmacy Benefits

The Benefits of ICUBA Membership

ICUBA reduces the cost of traditional insurance programs by avoiding the premium taxes and the high margins charged by insurance carriers. As a result, all schools in the plan share insurance costs so that, regardless of size, they are protected from fluctuating annual premium rate increases.

ICUBA does not need to respond to insurance company shareholder demands, so it is able to focus its attention on quality management of the health plan in order to:

• Provide its members’ employees with access to proven health care treatment, in addition to a strong preventive care program in order to find medical problems early, when they are best treated.
• Address patient concerns fully and explain treatment options clearly.
• Avoid complications by getting the right care at the right time.

ICUBA operates as a Multiple Employer Welfare Arrangement (MEWA), and is regulated by the Florida Department of Financial Services. Accordingly, ICUBA follows sound actuarial practices that guarantee adequate reserves to pay claims.

The ICUBA value proposition is unique as ICUBA offers:

• Plan design features including Wellness Benefits that are covered 100%
• PPO Open Access Plans with no deductible ambulatory benefits
• Consumer Directed Health Care with Health Reimbursement Accounts so that all employees may participate in the Plans providing financial assistance with out of pocket expenditures
  
• A value based Pharmacy program with mail order and 90 day at retail
• "Big Employer" quality health benefits and services such as online enrollment, electronic eligibility, centralized benefits billing, compliance services, COBRA Administration, and an Employee Assistance Program
• An opportunity to promote a culture of wellness with employees
  
• Retiree medical coverage
• Large group pricing for Life Insurance, Long-Term and Short-Term Disabilty Insurance
• Value Cluster with unique vendor partners to deliver optimal service
• Collaboration with peers to provide high quality, cost effective benefit plans to employees