Curtis D. Sharp
Officer for Denominational and Public Relations
214-720-2127
Curt.Sharp@GuideStone.orgGuideStone Announces Good News for Medical Plan Participants
August 3, 2006
DALLAS – GuideStone Financial Resources President O. S. Hawkins reported to trustees that participants in the personal medical plans will receive no rate increase for 2007. This marks the third year in a row GuideStone has held the line on medical plan rates.
The trustees of GuideStone Financial Resources of the Southern Baptist Convention met in regular session July 31-Aug. 1. During the meeting trustees approved the annual re-rate recommendation for GuideStone’s medical plans. Trustees also received an update on GuideStone’s operations from Chief Operating Officer John R. Jones.
In his report to trustees, Hawkins shared good news regarding medical rates for 2007. Other than regular age increases, 100% of personal medical plan participants will receive no rate increase and more than 40% will receive a rate decrease. Hawkins credited the good report to the continued improvements in the administration and design of GuideStone’s medical plans.
“During the past several years, we have provided a greater variety of choices in our medical plans with varying deductibles and rates. We have also realized greater discounts by using a single network. We are beginning to see positive results from our wellness emphasis and more and more churches are taking responsibility in meeting their pastor’s benefits needs,” Hawkins said.
All state Baptist conventions who have their medical coverage with GuideStone will receive no rate increase in 2007 and 46% of the conventions will receive a rate decrease. For all other group plans, 88% will receive no increase and 53% will receive a rate decrease.
There will be no increase in medical plan rates for the senior plans. The stability of GuideStone’s medical plan rates is made even more significant since medical inflation is increasing by 8-12% per year. More information related to GuideStone’s medical plans will be mailed to participants and group administrators soon.
Jones reviewed the strategic objectives related to GuideStone 90, the first phase of GuideStone’s long-range plan. GuideStone 100, which trustees had previously approved, is the long-range plan which charts the course for GuideStone’s 100th anniversary in 2018.
“Initiatives related to GuideStone 90 are focused on strengthening GuideStone’s lifelong partnership with its participants,” he said.
Jones reviewed a number of initiatives that have contributed to the financial security of participants including the roll-out of the Morningstar® Retirement ManagerSM which is an online software tool designed to assist participants in choosing an appropriate asset allocation for their retirement accounts.
Other new products that will be available to participants include automatic re-allocation of a participant’s account, new services for participants approaching retirement and the ability to choose new asset allocation funds that dynamically change as a person approaches retirement.
Jones also reminded trustees that GuideStone Funds will celebrate its five-year anniversary on Aug. 28. GuideStone Funds is the nation’s largest Christian-based, socially-screened registered mutual fund family. The goal of GuideStone’s investment program is to provide its investors with access to global financial markets utilizing a multi-manager investment approach with proven investment management firms.
“The five-year anniversary is a significant milestone for our fund company and demonstrates to the investment community and to our investor base a track record with a great deal of accomplishment,” said Rodric E. Cummins*, GuideStone Fund’s chief investment officer.
Jones told trustees that a project team has been organized to study the feasibility of allowing members of Southern Baptist churches to participate in the financial and insurance products of GuideStone. This action is in response to a motion made by Gary Smith of Arlington, Texas, during the Southern Baptist Convention in Greensboro, N.C.
“Every decision we make as trustees and staff must be considered in terms of our vision statement which says, ‘We exist to honor the Lord by being a lifelong partner with our participants in enhancing their financial security,’” Hawkins said.
“In that statement we find our motivation — to honor the Lord. We find our message — to be a lifelong partner and we have our mandate — to enhance the financial security of our participants. We must always ask, ‘Will this decision enhance the financial security of the pastor at the crossroads and our other participants?’”
The Relief Committee of the trustees added or upgraded 89 recipients to the financial assistance roll during the first six months of 2006. They approved 12 two-year monthly or expense grants.
Trustees welcomed two new members elected in Greensboro. New trustees include Roger D. Phillips of Liverpool, N.Y., and J. Timothy Wilkes of Mobile, Ala.
The next scheduled meeting of GuideStone Financial Resources trustees is November 6-7 in Dallas.
You should carefully consider the investment objectives, risks, charges and expenses of GuideStone Funds before investing. For a copy of the prospectus with this and other information about the Funds, please call 1-888-98-GUIDE (1-888-984-8433) or download a prospectus (pdf). You should read the prospectus carefully before investing.* A Registered Representative of PFPC Distributors, Inc., a registered broker-dealer and underwriter of the funds, 760 Moore Road, King of Prussia, PA 19406. GuideStone Capital Management, a controlled affiliate of GuideStone Financial Resources, serves as the investment advisor to GuideStone Funds.
Word version - GuideStone Announces Good News for Medical Plan Participants