About Us
Virginia Private Colleges Benefits Consortium, Inc.
The Virginia Private Colleges Benefits Consortium is a 501(c) (9) employee welfare benefit plan within the meaning of ERISA and constitutes a benefits consortium under Section 23.1-106 of the Code of Virginia. Seventeen private colleges, each a member in good standing of the Council of Independent Colleges in Virginia, Inc., are members of the Consortium.
The Consortium covers 3,500 employees (6,300 lives in total) with medical, dental and vision benefit plans. The number of covered employees by college ranges between 45 and 450. The Consortium is governed by an 18-member Board of Directors. The President of each member college selects a senior administrator to serve on the Board. In addition, the President of the Council of Independent Colleges in Virginia is a Board member. All governing authority rests with the Board.
The Consortium uses a benefits consultant (Marsh & McLennan Agency), claims administrators (Anthem Health Plans of Virginia, Inc., CarelonRx and Delta Dental of Virginia) and other vendors to provide administrative, consultative and legal services.
What We do
The Consortium has developed 11 medical and five dental plan designs for use by its member colleges. Each college may elect to offer up to three medical and two dental plan designs to its eligible employees. Plan designs offered for medical benefits include PPO, Open-access HMO and high-deductible health plans. Member colleges may offer up to five tiers of coverage: employee only, employee plus child, employee plus children, employee plus spouse, and employee plus family. Colleges are free to require covered employees to contribute to the cost of coverage. The Consortium does not prescribe employee contribution levels. Any such employee contributions are collected by the college via payroll deduction. Terminated employees may continue their coverage under COBRA. COBRA contributions are collected for the Consortium by a third-party administrator.
The Consortium operates on a self-insured basis. Contribution levels are set recognizing claims experience, plan design, demographics and industry experience at each individual member college. Contribution rates are set by the Board of Directors upon approval by an actuarial services firm on a prospective experience rated basis. The contribution rates for each college represent a blend of individual college claims experience and overall Consortium claims experience in accordance with a risk management strategy which includes both claims pooling and individual stop-loss insurance.
The Consortium’s independent auditor is Brown, Edwards & Company, L.L.P.
For Healthcare Transparency in Coverage information use the below link and EIN 27-1367957.
https://www.anthem.com/machine-readable-file/search
Our History
Over the past two decades, the Virginia Private Colleges Benefit's Consortium, Inc. (VPCBC) has experienced remarkable growth and evolution. The Consortium has become a trusted provider of health insurance and benefits for a select group of private colleges in Virginia. Through their dedication and adaptability, VPCBC has established strong partnerships and tailored offerings to meet the unique needs of their member institutions.
Board of Directors
Meet Our Team
VPCBC Staff
