HomeMy WebLinkAbout04-16-2025City of Meridian Employee Benefits Plan Trust
Board of Trustees Meeting Agenda
Wednesday April 16, 2025 11:00 A.M.
City Attorney’s office or through
Microsoft Teams hyperlink (attached)
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Roll-Call Attendance
Trustees
__X___ Bill Nary __X___ Christena Barney
__X___ Alex Freitag __O___ Justin Northway
__X___ Eli Daniel
Regular Attendees
__X___ Cindy Tealey __O___ Destiny Bradley
__X___ Tasha Norman __X___ Dan Malloy
__O___ Scott Howell
__X___ Reba White
__O___ Matt Ferronato
__X___ Curtis Calder
Approval of Minutes – Attached Approved AF moved, ED seconded
Reports (Action may be taken if Necessary)
Monthly Experience Reports
February: Medical - Experience was 138.54%, up from the previous month for an average YTD of 114.26%.
8 Large Claims, 3 more than this period last year. Several are rollovers from previous year. Two are over $100k. Report will start to call out new claims vs rollovers. Zejula is
a caner drug that is $15k per month and will likely be a continuing claim.
Dental – Experience was 89.83%, up from previous month for an average YTD of 80.00%.
Vision - Experience was 126.33% down from the previous month for an average YTD of 123.50%.
Rolling 12 months for Medical and Rx Claims is 113.93%
Monthly Financial Reports January, February and March Financial Reports sent to the Board today.
Quarterly Financial Reports $320 estimated Q1 2025 Deficit. Reba drafting letter on behalf of the Board capturing what the board is doing to mitigate risks, and correct deficiencies
will be sent in with audit letter no later than April 28, 2025. We will see if DOI will accept our mitigation strategies or require, we have the City provide funding.
Discussion and Action Items
Council Presentation - Presentation to Council is scheduled for Tuesday, April 22 at 4:30. Bill will be presenting and would like Board members in attendance.
Deficit Discussion Discussed during the quarterly financial report update. Trying to make the cost affordable to the City and Employees. Attraction and Retention is a concern when
we look at options in changes we can make.
Post-Retirement Health Update Comp committee still has this on their agenda. Still trying to weigh it. An option is to allow people to stay on the plan after they leave. Looked at
putting some limitation on it. An option is to tier coverage based on years of service. Gallagher should be involved in the conversation and provide guidance.
Payments of bills, if any $14,400 Annual Audit to Eide Bailley. Motion to approve CB, seconded by ED. Approved.
Blue Cross Updates, if any None
Gallagher Updates, if any None
Next Meeting Topics Renewals
Adjournment ED motioned Adjourned at 11:32AM.