SCMA Members' Insurance Trust

What SCMA Members' Insurance Trust does

SCMA Members' Insurance Trust (MIT) is a self-funded Multiple Employer Welfare Arrangement (MEWA) sponsored by the South Carolina Medical Association (SCMA), founded in 1981 and headquartered in Columbia, South Carolina. The trust provides group health, dental, vision, life, accident, and critical illness insurance to physicians and medical practices across South Carolina, serving more than 3,500 covered lives across 200+ participating employers. Eligibility requires that participating employers have a connection to the medical community, at least two employees, and 50% participation in the plan, with employers contributing at least 50% of employee-only coverage costs.

The product portfolio is organized around ten medical plan designs: five HSA-qualified High Deductible Health Plans (HDHP Options 1, 2, 6, 7, and 8), two Major Medical plans (MM Choice Plus and MM HD 2000 Enhanced), and three Specialty Plans (Premier Plus, Prime Plus, Select Plus). Supporting offerings include Basic and Enhanced Dental plans through Sun Life Financial, Community Eye Care vision coverage, voluntary life/AD&D, accident, and critical illness insurance, and embedded "Total Trust Perks" benefits ($15,000 basic life, core accident, $5,000 core critical illness) effective January 2026. Technology and service delivery are operated through third-party partners rather than in-house systems: Blue Solutions Administrator handles medical claims administration and provides access to the BlueCard nationwide PPO network via the My Health Toolkit member portal; Express Scripts manages pharmacy benefits; MUSC Virtual Care delivers 24/7 telemedicine at $15 per visit; JET Insure provides employer enrollment and billing; Benefit Coordinators administers COBRA; and Fulcrum Risk Solutions serves as the exclusive brokerage partner.

MIT's business model is employer-paid recurring premiums on a self-funded basis, where claims experience is pooled across participating employers to deliver large-group pricing economics to small and mid-market medical practices. Revenue streams include medical premiums, dental premiums, and voluntary/embedded supplemental benefits, all on monthly billing cycles. The organization is governed by a five-member physician Board of Trustees acting as Plan Administrator and ERISA fiduciaries, with SCMA as Plan Sponsor. The trust is a private, not-for-profit-aligned vehicle serving members rather than shareholders, with no venture funding or public equity involvement. GTM is sales-led, leveraging the SCMA member network for top-of-funnel awareness, an exclusive broker for bottom-of-funnel quoting, and digital portals (scmamit.com, JET Insure, My Health Toolkit) for self-service administration.

Name

SCMA Members' Insurance Trust

Legal name

South Carolina Medical Association Voluntary Employees' Beneficiary Association Welfare Benefit Plan and Trust

Website

https://scmamit.com

Company type

Private

Founded year

1981

Operating status

Operating

Headcount range

1–10 employees

Short description

SCMA Members' Insurance Trust is a self-funded Multiple Employer Welfare Arrangement sponsored by the South Carolina Medical Association, providing group health, dental, vision, life, and supplemental insurance to 3,500+ covered lives across 200+ medical practice employers in South Carolina.

Ownership category

akta.pro rank

Product category

Group Health Insurance (MEWA)

NAICS

Health and Welfare Funds (525120), Insurance and Employee Benefit Funds (5251)

SIC

Hospital & Medical Service Plans (6324), Accident & Health Insurance (6321), Services-Membership Organizations (8600)

akta.pro primary industry

Group/Employer-Sponsored Critical Illness & Hospital Indemnity (FSAIAKAD)

akta.pro secondary industries

Basic Group Term Life (Employer-Paid) (FSAIADAA), Voluntary/Worksite Critical Illness & Hospital Indemnity (Employee-Paid) (FSAIAKAF)

Keywords

• Self-funded health insurance
• Group health benefits
• Multiple employer welfare arrangement
• Medical practice benefits
• Employee benefits administration

Headquarters

HQ city

Columbia

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Employer Health Insurance Premiums: MIT generates revenue through employer contributions for group health coverage. Participating employers contribute at least 50% of the cost of employee-only coverage. The self-funded arrangement allows for pooled experience and lower premiums compared to commercial insurance.
2. Employer Dental Premiums: Separate dental coverage offerings through Sun Life Financial, with employers selecting from Basic or Enhanced dental plans at group rates.
3. Voluntary Supplemental Benefits: Optional buy-up coverage for life insurance, accident insurance, and critical illness insurance offered through Sun Life Financial at reduced group rates, providing additional revenue stream.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels4 records

Core offering

SCMA Members' Insurance Trust (MIT) is a self-funded Multiple Employer Welfare Arrangement (MEWA) that administers group health, dental, and supplemental insurance coverage for South Carolina medical practices with an SCMA member connection. The portfolio includes 10 medical plan designs (HDHP, Major Medical, Specialty), Basic and Enhanced dental plans, voluntary life/AD&D, accident and critical illness coverage, vision, MUSC virtual care, and COBRA continuation. Services are sold to employers (practices) through an exclusive brokerage partner with employees enrolled as covered lives.

Product overview

SCMA Members' Insurance Trust (MIT) operates as a self-funded Multiple Employer Welfare Arrangement (MEWA) sponsored by the South Carolina Medical Association, offering a unified health and benefits platform for medical practices statewide. The core portfolio comprises 10 medical plan designs organized into three categories: 5 HSA-qualified High Deductible Health Plans (HDHP Options 1-8), 2 Major Medical Plans (MM Choice Plus, MM HD 2000 Enhanced), and 3 Specialty Plans (Premier Plus, Prime Plus, Select Plus). Supporting the medical plans are two Dental Plan options (Basic and Enhanced), plus Total Trust Perks embedded benefits including $15,000 basic life insurance, Core Accident Insurance, and Core Critical Illness Insurance (all effective January 2026 via Sun Life partnership). Voluntary and supplemental add-ons include Vision coverage through Community Eye Care, Voluntary Life/AD&D, Voluntary Accident Insurance, and Voluntary Critical Illness Insurance. Integrated service partners include Blue Solutions Administrator for claims processing and nationwide PPO network access, Express Scripts for pharmacy benefit management, MUSC Virtual Care for 24/7 telemedicine, and JET Insure for enrollment portal management. MIT serves 3,500+ covered lives across 200+ participating employers in South Carolina's medical community.

Differentiator

Problem solved

Functional benefit

Brands

• Total Trust Perks: Embedded benefits program providing basic life insurance, accident insurance, and critical illness coverage at no additional cost to MIT members, administered through Sun Life Financial.

Products and services

• High Deductible Health Plans (HDHP)

Quantifiable outcome

• 3,500+ covered lives and 200+ participating employers statewide
• +2 more outcomes

Named customers3 records

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration12 records

Partnerships

Seven partnerships are on record, tiered core and secondary.

• Sun Life FinancialcoreStrategic or Co-development Partner · 1 January 2026Starting January 2026, Sun Life provides embedded benefits including $15,000 basic life insurance, core accident insurance ($25 wellness benefit), and core critical illness ($5,000 with $25 wellness benefit). Also provides voluntary buy-up options for life, accident, and critical illness coverage. Replaces The Hartford for 2026 plan year. Includes Sun Life Wellthy (end-of-life planning), AbleTo (mental health), and Assist America (global emergency assistance).
• Benefit CoordinatorssecondaryImplementation/ SI/ Consulting Partner · 1 January 2020COBRA administration services partner handling premium collection from COBRA participants and payment to MIT at no additional cost to groups. Available since January 2020.
• Medical University of South Carolina (MUSC)coreStrategic or Co-development Partner · 1 October 2019MUSC Virtual Care partnership provides MIT members exclusive access to virtual urgent care visits at $15 per visit (30 minutes or less). Available 24/7 for treatment of 40+ health conditions. Partnership launched January 1, 2020 to reduce ER visits and healthcare costs. Access via https://muscvirtualcare.zipnosis.com/
• Blue Solutions Administrator (BSA)coreTechnology or IntegrationBSA serves as MIT's third-party administrator for medical claims processing. Provides members access to the largest nationwide PPO network through BlueCard (Blue Cross/Blue Shield), enabling seamless coverage when traveling. Members access My Health Toolkit portal for claims, EOB, and provider management. Contact: 833-644-1296.
• Express ScriptscoreTechnology or IntegrationPharmacy benefit management (PBM) partner providing formulary management, prescription processing, and pharmacy network access for MIT members. Contact: 877-744-9299.
• Community Eye Care (CEC)secondaryChannel Partner/ Reseller/ DistributorVision coverage partner offering comprehensive vision plans with flexible eyewear allowance for glasses, contacts, sunglasses, safety glasses. Annual exams, contact lens fitting included. CEC portal available for member access.
• Fulcrum Risk SolutionscoreChannel Partner/ Reseller/ DistributorExclusive brokerage partner handling quote requests and sales support for prospective MIT employers. Contact: 803-798-3584, [email protected]. Located in Columbia, SC.

Scale indicators5 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Curi: Curi (formerly Medical Mutual Insurance Company of North Carolina) is a physician-led insurance and risk-management organization serving North Carolina medical professionals. Like SCMA MIT, it provides group health and ancillary benefits through a membership/association-aligned structure, making it the closest direct comparable.
• Texas Medical Association Insurance Trust: TMA Insurance Trust is a state medical-association-sponsored benefits trust offering group health, life, and disability coverage to Texas physicians and their staff. Operates on the same association-sponsored, multi-employer welfare arrangement model as SCMA MIT.
• Michigan State Medical Society (MSMS) Physician Service Group: MSMS's affiliated benefits arm offers insurance and financial services to Michigan physicians and their practices. Comparable to SCMA MIT as a state medical-society-affiliated benefits platform targeting the same medical-practice vertical.
• Florida Medical Association (FMA) Trust: FMA Trust provides insurance and benefit programs to Florida physicians through FMA sponsorship. Mirrors SCMA MIT's medical-association-sponsorship model with group health, life, and disability offerings for member practices.

Regional players

• Blue Cross Blue Shield of South Carolina: The dominant commercial health insurer in South Carolina and MIT's underlying network partner via BlueCard/Blue Solutions Administrator. Operates the same geography but with a much broader product portfolio and substantially larger scale than MIT.

Broad incumbents

• Medical Protective: A Berkshire Hathaway-owned professional liability insurer serving physicians and healthcare providers nationally. While focused on medical malpractice rather than group health benefits, it serves the same medical-practice customer base that SCMA MIT targets.
• ProAssurance Corporation: A national medical professional liability insurer that also offers healthcare-facility and physician benefits solutions. Comparable to SCMA MIT in serving the medical professional vertical but with a broader, multi-line carrier footprint.
• The Doctors Company: The largest physician-owned medical malpractice insurer in the U.S., offering risk-management and member benefits to medical professionals. Like SCMA MIT, it is physician-led and physician-governed, but its scope is professional liability rather than group health.

Emerging players

• Decent: A Texas-based health insurer that uses MEWA and 501(c)(9) trust structures to deliver small-group and self-employed health plans with reduced premiums. Operates a similar pooled, association-style model to SCMA MIT but targets the broader small-business market rather than medical practices specifically.
• Gravie: A benefits marketplace and administrator that helps small and mid-sized employers access group health and supplemental coverage through pooled purchasing arrangements. Conceptually comparable to SCMA MIT's MEWA-style pooling approach.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/south-carolina-medical-association-members-insurance-trust

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SCMA Members' Insurance Trust