DALLAS — A second year of positive trends in insurance rates was reported to trustees of GuideStone Financial Resources of the Southern Baptist Convention, and trustees heard reports on positive performance of the investment funds during their Nov. 7–8 meeting in Dallas. President O.S. Hawkins told trustees that GuideStone has good news for its medical plan participants.
“Last year we were able to give 40 percent of our personal plan participants a rate decrease. For 2006, 57 percent of our personal plan participants will receive a rate decrease,” Hawkins said.
The transition to a single network provider, Highmark Blue Cross Blue Shield, has resulted in deeper discounts for medical services resulting in lower claims. Many participants have chosen higher deductible plans, which has contributed to GuideStone’s ability to stabilize rates.
GuideStone’s pharmacy coalition agreement with Medco Health Solutions also has contributed to containing costs. While the national trend in pharmacy increases is running approximately 12 percent, pharmacy costs for GuideStone’s plans have only increased by 6 percent.
As of the end of September, assets under management for GuideStone totaled $8.4 billion, reported John R. Jones, GuideStone’s chief operating officer. This represents an 11.7 percent increase over the previous year. For the most recent investment performance and fund ranking, please visit www.GuideStone.org.
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