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The Benefits of a Trust
A Unique Value
A trust offers a unique value in providing security, expertise and accountability in healthcare programs. As a self-funded, not-for-profit organization, a trust directs all monies to the maximum benefit of its members and is legally held to the highest standards of fiduciary responsibility.
CVT has fully-funded reserves that avoid any contingent liability to its members. As the state's largest self-funded public schools trust, we have never required school district members or participants to pay additional contributions midyear for health, dental or vision coverage. This is a significant difference compared to JPAs and other healthcare providers that work on a commission basis and put both school districts and participants at much greater risk, including claim runouts and financial liabilities.
How A Trust Works
The trust is a concept approved by CTA and CSEA, and managed by a board of directors with equal representation of management and labor to assure the interests of all parties are considered. Each participating school district's contribution is determined by the collective bargaining agreement between the individual district and CTA or CSEA, and/or by the participation agreement between the district and the trust with respect to employees not covered by a collective bargaining agreement.
For more information see our educational brochure "How Does a Jointly Managed Trust Work."