Fund Overview

ABOUT THE NJMEBF

The North Jersey Municipal Employee Benefits Fund (NJMEBF) was formed under NJSA 40A:10-36 et seq, which allows two or more units of government to form a joint insurance fund. Joint insurance funds were created for the purpose of group purchase/self-insurance against claims for various property and casualty coverages. Amendments were made to the statute and enacted on November 30, 1990, to expand the risk to include contributory and non-contributory group health insurance. The rules governing the operation of a joint insurance fund for local governmental units, providing group health and term life benefits, were effective July 19, 1993, under the NJAC 11:15-3 et seq. https://www.state.nj.us/dobi/proposed/prn06_397.pdf

HOW THE NJMEBF BENEFITS EMPLOYERS

Health Insurance Funds do not include costs that you would typically pay an insurance company. We help you retain the dollars you would otherwise pay for routine benefits, we eliminate profit margins and overhead expenses, and applicable taxes that group insurance premiums include. These savings help defray the expenses for routine claims and to pay the administrative costs for your program. Health Insurance is a costly budget item, let us help save your Municipality valuable dollars.

Click here to view a brochure about the NJMEBF.

Benefits of a Health Insurance Fund (HIF)....

In a HIF, members have the ability to "control their own destiny":

Each member entity appoints a Commissioner

Services are “unbundled” and contracted for:

most effective Third Party Administrator (TPA)
the best network in the region
the flexibility of plan designs
support provided by Fund professionals

Fund membership allows variations in coverages as needed:

Introduction of more cost-effective plan designs

the Fund’s various Choice Plus Plans
customized Aetna US Healthcare QPOS Plan

Operating costs are reduced as a result of:

Paying only fixed plan expenses and only those claims that actually occur
Earning interest on deposits until utilized
Capping overall risk exposure at a manageable level

Cash flow is improved by:

The group purchasing power of the Fund
Elimination of insurance company profit margins
Elimination of premium taxes
Reduction in overhead expenses

As a participating employer in the Fund, you can:

Contain your health benefits cost
Save money by reducing the expenses included in the premiums that would otherwise go to an insurance company
Improve your cash flow by paying only fixed plan expenses and only those claims that actually occur
Earn interest on deposits until utilized
Save additional money when claims are lower than projected in a plan year
Cap your overall risk exposure at a manageable level
Provide long-term stability in your health benefits program costs

You're In Good Company

Municipalities

Andover Township
Berkeley Heights
Bloomingdale
Boonton Township
Byram
Chatham Borough
Dover Town
Hanover
Harding Township
Hardyston Township
Jefferson Township
Kinnelon
Knowlton Board of Education
Lincoln Park
Madison Township
Madison Township Housing Authority

Montville
Mountain Lakes Borough
Mount Olive Township
Netcong
Newton
Pequannock Township
Prospect Park
Randolph
Ringwood
Roxbury
Sparta
Vernon
Wantage
West Milford
Wharton
Woodland Park