MUM is a self-insured institution. “Self-insured” means that we use a risk alleviation strategy to finance group health plans in which expenses are paid as they are incurred, rather than paying fixed premiums to a traditional insurance company.

MUM can provide insurance and other benefits due to the support of the Annual Fund and its donors, which helps to fund the University’s operating budget. In terms of faculty and staff, MUM has an aging demographic, and the slightly higher insurance costs reflect that market reality. Even though MUM’s insurance costs have risen over the years, they remain far below the national norm in terms of cost and user needs per this demographic. That is one reason why the University remains self-insured. MUM gratefully thanks all donors to the Annual Fund who help make it possible to meet the University’s faculty and staff insurance needs.