HomeMy WebLinkAbout05-21-2025City of Meridian Employee Benefits Plan Trust
Board of Trustees Meeting Agenda
Wednesday May 21, 2025 11:00 A.M.
City Attorney’s office or through
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Roll-Call Attendance
Trustees
__X___ Bill Nary __X___ Christena Barney
__X___ Alex Freitag __X___ 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
__O___ Curtis Calder
Approval of Minutes – Attached Approved CB moved, ED seconded
Reports (Action may be taken if Necessary)
Monthly Experience Reports
March: Medical - Experience was 144.21%, up from the previous month for an average YTD of 123.28%.
14 Large Claims, 6 more than this period last year. Will have a new cancer claim in June. Dependents are driving large claims this plan year. Chemotherapy driving large claims.
Dental – Experience was 127.55%, up from previous month for an average YTD of 95.68%.
Vision - Experience was 78.28% down from the previous month for an average YTD of 108.43%.
Rolling 12 months for Medical and Rx Claims is 118.69%, up from the previous month of 113.93%.
Monthly Financial Reports April Financial Reports sent to the Board today, reviewed during the meeting.
Quarterly Financial Reports Q1 2025 Draft sent to Board today, reviewed during the meeting.
Discussion and Action Items
Council Presentation Presentation to Council provided on Tuesday, May 20 at 4:30. Bill presented an update on differences between self-funding market check and fully insured RFP process.
The Council had questions about whether GLPs are driving higher costs.
BCI able to determine diagnosis and if treatments are working or if there are alternatives the Trust can consider assisting the population with better treatment outcomes.
Dan stated that cancer has been the leading condition for most groups in BCI book of business.
Deficit Discussion Discussed during the quarterly financial report update and budget amendment request below.
Budget Amendment Request to City Council Mayor and CFO supportive of a budget amendment to support the Trust. We need to do our best to estimate the rest of the fiscal year. Gallagher
working on obtaining estimated deficit range from underwriting. Should have available early next week.
Post-Retirement Health Update Bill talked with the Mayor. The Compensation Committee still reviewing. A Council member mentioned they would like the Trust to fund. Bill stated the
Trust can not do that if we continue to right size funding.
Payments of bills, if any None
Blue Cross Updates, if any None
Gallagher Updates, if any BCI renewal should be received tomorrow.
Next Meeting Topics Renewals
Adjournment ED motioned Adjourned at 11:48AM.