For Immediate Release: Thursday, May 8, 2003
New Agreement Reached for Student Health Insurance
RAPID CITY – The South Dakota Board of Regents Thursday approved amendments to the current student health insurance contract designed to keep costs affordable for students. The contract is in its third and final year.
“This new agreement with Student Resources keeps the cost of insurance down for our students,” Board President Harvey C. Jewett said. “Negotiations and amendments to the policy reduced the expected premium increase from 26.9 percent to 3.6 percent. I think this is quite reasonable given the soaring health care costs across the nation.”
Amendments to the current contract include:
"When we renegotiated the agreement we looked at what components of the health insurance students were using. Benefits that were not being utilized were adjusted in order to decrease the cost of the plan," said Janice Price, Board of Regents' director of human resources,
The Regents will request bids later this summer to begin the process of selecting the next health insurance carrier. The Student Affairs Council (SAC) will coordinate focus groups of students to discuss future insurance benefits.
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