HomeMy WebLinkAbout03-19-25 Minutes
City of Meridian Employee Benefits Plan Trust
Board of Trustees Meeting Agenda
Wednesday March 19, 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
__O___ Eli Daniel
Regular Attendees
__X____ Cindy Tealey __O___ Destiny Bradley
__O____ Tasha Norman __X___ Dan Malloy
__O____ Scott Howell
__X___ Reba White
__O___ Matt Ferronato
__O___ Curtis Calder
1. Approval of Minutes – Attached Approved AF moved, CB seconded
2. Reports (Action may be taken if Necessary)
Monthly Experience Reports
January: Medical - Experience was 85.99%, down from the previous
month for an average YTD of 85.99%.
1 Large Claim, similar this period last year.
Dental – Experience was 70.43%, up from previous month for an average
YTD of 70.43%.
Vision - Experience was 120.72% down from the previous month for an
average YTD of 120.72%.
Rolling 12 months for Medical and Rx Claims is 109.87%
Monthly Financial Reports January Financial Reports will be sent out as soon as they
are available.
Quarterly Financial Reports $112K Deficit Q4 2024. During the 2024 audit, Trust is
still in deficit as of February 28, 2025. Acknowledge we are aware; explore why we
are experiencing higher claims and how address.
Claims are higher even with $74k in rebates. We know it is due to cancer claims,
orthopedic, and Rx. We are having discussions about rates for 2026 and plan design
changes for 2026 to try to mitigate future losses.
Biosimilars in 2025 is an option to help offset losses but would not be effective until
st
October 1. Three people would be impacted by that change, Humira. Education to
member and the doctor $7000 on Humira to the biosimilar of $1000.
CB motioned to accept moving to the biosimilar program for 2025 and 2026, AF
seconded, all ayes.
3. Discussion and Action Items
Post-Retirement Health No update
Payments of bills, if any None
Blue Cross Updates, if any None
Gallagher Updates, if any None
4. Next Meeting Topics None
5. Adjournment AF motioned, CB seconded. Adjourned at 11:40AM.