AXA Healthcare: increased premiums

3/7/2023 7:01:20 PM

Dear UMASA members,
UMASA is in communication with the UM Administration to discuss the raises to AXA health insurance premiums for UM academic staff members and their dependents. The UM Administration informed UMASA that premiums have gone up drastically since there were several claims over the past years. 
UMASA is informed that the UM seeks alternatives every other year, including last year; and that, up to (and including) last year, AXA have always been the cheapest, with other insurance providers offering prices ranging from one and a half to nearly thrice the prices quoted by AXA.
However, the extraordinary rise in costs is sufficient reason for the UM to seek alternative quotes this year too. Therefore, UMASA is asking the UM Administration to extend the deadline for renewal. Raises this high should not be communicated on such short notice. Further support with paying premiums for those opting for higher insurance tiers or those insuring dependents needs to be considered.
UMASA welcomes suggestions from its members on the way forward. These can be emailed to 
Best regards,
UMASA Council