WEBT, a non-profit health benefit trust, consisting of public educational entities, cities, counties, special districts, and publicly funded employers that have come together to pool their health benefits risk. Established in 1971, WEBT has grown to include approximately 90 public employers with 7,000 employees and retirees. The mission of WEBT is to offer high quality group benefit programs to its members and retirees that adhere to the highest service standards and integrity in the industry.
The financial objective of WEBT is to spread adverse claims over a larger base of members and reduce administrative expenses. The Trust has fully funded its reserves for claims payable as well as its Plan Stabilization Reserve. Additionally, through prudent financial and benefits management, WEBT has developed substantial reserves to assure long term financial stability which is further enhanced by purchasing stop loss insurance to protect the Trust fund from very large unexpected claims. Member employers and their employees benefit from the predictable claims experience, very low administrative costs and fully funded reserves as well as the not for profit status of the Trust.
A Board of Trustees consisting of representatives from participating employers governs the Trust. The WEBT benefits consultant, Willis Towers Watson, handles the marketing and consulting as well as assisting with the service needs of the members.
Willis Towers Watson is a leading global insurance broker/consultant. Through its subsidiaries, Willis Towers Watson develops and delivers professional insurance, reinsurance, risk management, financial and human resource consulting and actuarial services to corporations, public entities and institutions worldwide. Willis has more than 400 offices in nearly 120 countries, with a global team of approximately 39,000 associates serving clients in virtually every part of the world. The members of the Willis Towers Watson team that assist the WEBT are all licensed within the State of Wyoming.