NYAHSA Services, Inc. Self-Insurance Trust

The NYAHSA Services, Inc. Self-Insurance Trust was formed to combat the skyrocketing workers' compensation cost of members, especially in facilities with exemplary loss records and proactive safety programs. The trust has grown significantly over the years and the average facility has seen substantial cost savings compared to what is available in the marketplace.

The trust acts in a similar fashion to a mutual insurance company, with its policyholders being the owners and being responsible for the obligations of the trust in satisfying the Workers' Compensation Law. In operating the trust, a board of trustees is established and an administrator is hired to handle the various business functions. The trust, once it is formed, has a great deal of latitude in how underwriting policy, rating structure and services are established.

Self-insurance allows the facility to control (or reduce) costs by gaining control of the systems and reducing administrative expenses. The NYAHSA Services, Inc. Self-Insurance Trust offers a method for providers to take advantage of self-insurance without having to put up costly security deposits.

The advantages of a self-insured trust include:

• Protection against catastrophic loss
• Strength in numbers/cost cutting through group purchasing
• Selective partners committed to quality
• Customized loss control services
• Tailored claims management services
• Better communication before, during and after a claim occurs
• Investment income to help build surplus
• Operating outside the current rating system