OCR Text |
Show Rate Increase Prompts Change, Blue Cross Will Take U Policies The University's group insurance policy for all faculty and full-time staff members will be changed from Prudential to Blue Cross-Blue Shield when the policy with Prudential Pru-dential expires this July 15, 1957. The switch was prompted because of the increase in rates necessary to continue the policy with Prudential. Pru-dential. After learning of the increase in Tates and investigating possible alternatives, al-ternatives, the Faculty Annuities and Salaries Committee decided it was appropriate to solicit proposals from other companies in an effort to get the best possible coverage at a reasonable cost. It was realized real-ized that some increase in rates was inevitable due to rising cost of medical service. After a thorough consideration of the bids received, the Administration Admin-istration accepted the unanimous recommendations of the investigating investigat-ing committee to adopt the plan presented by Blue Cross-Blue Shield. The new plan contains significant sig-nificant improvements over the current policy. The rates of the new policy are actually less than the rates being paid for health insurance in-surance two years ago. The University Uni-versity will continue to share in the cost of the insurance. Persons carrying group health and medical coverage through the University prior to July 15, 1967, will be automatically covered by the new contract. It will not be necessary to complete application blanks. Those not desiring to participate par-ticipate in the plan should notify the Personnel Department in writing. |