Knowledgeable people in the insurance industry understand what’s happening and why. Many years ago when these Joint Insurance Funds (JIF’s) were created by statute, some of us saw the reason. It wasn’t, as put forth by the creators, to give public entities the ability to join together to get premium reductions – which, of course, never happened. The real reason was to provide a lot of politically connected individuals (including some legislators) to take up well-paid positions in the JIF management or as claims administrators or as legal counsel or, in some cases a combination of these – despite the obvious conflict of interests. No question that public entities had better coverages, lower (bid on) premiums before the JIF’s. But NJ politics being what they are, the politicians won another one.
Boy, I am sure glad nothing like this could happen with our US Government. Think what an effect it could have on the new health plan! Fortunately for us, there are our elected officials that would not stand for something like this!
Whats a couple of hundred thousand of tax payers money between “family”
never happens in New Jersey. Contracts awarded to “family” members? Must be an isolated incident.
Wow….If this were an insurance company “steering” business like that someone might actually go to jail. Typical New Jersey garbage.
Why in the world would ANYONE put their town insurance with a JIF over an A+ Rated Insurance Company???? I smell kickbacks!
Knowledgeable people in the insurance industry understand what’s happening and why. Many years ago when these Joint Insurance Funds (JIF’s) were created by statute, some of us saw the reason. It wasn’t, as put forth by the creators, to give public entities the ability to join together to get premium reductions – which, of course, never happened. The real reason was to provide a lot of politically connected individuals (including some legislators) to take up well-paid positions in the JIF management or as claims administrators or as legal counsel or, in some cases a combination of these – despite the obvious conflict of interests. No question that public entities had better coverages, lower (bid on) premiums before the JIF’s. But NJ politics being what they are, the politicians won another one.
Hey, I have a great idea. Let’s have a public option for medical insurance
Boy, I am sure glad nothing like this could happen with our US Government. Think what an effect it could have on the new health plan! Fortunately for us, there are our elected officials that would not stand for something like this!