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HomeMy WebLinkAbout2-18-26 MinutesCity of Meridian Employee Benefits Plan Trust Board of Trustees Meeting Agenda Wednesday February 18, 2026 11:00 A.M. City Attorney’s office or through Microsoft Teams hyperlink (attached) Click here to join the meeting Roll-Call Attendance Trustees __X___ Bill Nary __X___ Christena Barney __X___ Alex Freitag __O___ Shawn Harper X___ Eli Daniel Regular Attendees __X____Scott Howell __O___ Destiny Bradley __X___ Laurie Churella __X___ Dan Malloy __O___ Reba White Approval of Minutes – Attached December 17, 2025 and January 26, 2026 Special Meeting Motioned by AF, seconded by ED 3 Ayes, 0 Nays – Motion passed Reports (Action may be taken if Necessary) Monthly Experience Reports New format presented by Gallagher with additional information. Reporting through December. December: Medical total plan cost – Net loss ratio 117.7%, up 7.5% from Prior year. Rolling plan year data showing current loss ration of 117.7% prior year 110.2%. Historical Claims experience showing 3 years of data. High cost claimants, 4 exceeded Stop Loss. Prior plan year 1 over stop loss. Dental – Loss ration 106.2%, prior plan year 102.7%. Rolling 12 Vision – Gallagher working on pulling in the data. Utilization: PMPM 124.4% increase over the prior rolling 12 months. Top Medications: Reviewed high cost Rx, autoimmune and cancer medications top the list. Top utilized Medications: Showing lower cost Rx that are highly utilized. Members using, but not incurring high costs, with the exception of diabetes. Enrollment in plan, is stable. Discussion on how to make plan design changes that can have an impact on the high cost claims, Rx. Will need to educate City Council on the plan, how it is run and Board doing everything possible aside from large changes to sustain the surplus. Monthly Financial Reports Board reviewed: Balance Sheet as of December 31, 2025: Total Liabilities and Equity $2,474,237.45. Profit and Loss statement as of December 31, 2025: Net Income $49,187.07 Quarterly Financial Reports Q4 2025 (October – December 2025): Adequacy of Surplus $53,139 in excess compared to ($112,375) deficient for the same period last year. We are just awaiting the Q4 BCI Rebate letter to finalize and file our Q4 Financials with DOI. Filing must occur before 3/31/2026. Every Discussion and Action Items Election of Officers Chair: Bill Nary Motioned CB, Seconded AF 4 Ayes, 0 Nays – Motion passed Vice-Chair: Motioned BN, ED 4 Ayes, 0 Nays – Motion passed DOI Update Continuing to work with DOI on the Trust 5-year audit. Have not heard back regarding the response letter to findings 1-8. CB will share with the Board if/when is one received. Follow Up on DOI Requirements Conflict of Interest review. Statements will be sent to Board for signatures. Will be adding this to the first meeting of each new year to ensure annual understanding and compliance. Disclosure statement to be recited every time a member addresses the Board. “Please be aware that any statements you make, or information you disclose, during the Board meeting will become part of the official public record. This includes both oral comments and any written materials you submit. Accordingly, you should avoid sharing confidential, private, or protected information during the meeting. If you have questions about what may be appropriate to disclose, Human Resources is available to provide guidance in advance of the meeting.” Discussion on Board members that bring forward issues on behalf of an employee Wet signature on Minutes. Board discussed Board records. BN has been saving all videos and documents on the L Drive. The agendas are then sent to the City Clerk’s office for posting. City Clerk’s office is going to build out a place on Laserfiche for the Board to store public records that will be accessible by the public. Once legal counsel for the trust is secured the Board will need to update By-Laws to capture these practices. Enrollment Update for 2025 Open enrollment has been finalized and carriers have processed changes. Selection of Trust Counsel Process Have received biographical information from one attorney. Another has communicated interest and is preparing information for consideration. Have not yet heard form the third attorney. As soon as we receive bio from the 2nd, AF and CB will review and provide a recommendation to the Board. Selection of Trustees Process – Succession Planning Will review once new trust counsel is on board. Payments of bills, if any Taxes will need to be paid by March 9th, requires Trust Board approval. Awaiting the finalization of Q4 Financials to calculate taxes owed. Reba will send the request for approval to the Board when the amount is available. Refund from Hinge Health of $1595 for digital physical therapy. If utilization was below a threshold they return the admin fees. Gallagher is in conversations with BCI about the viability of the program and whether it will be continued. Trust agreed to process the refund. Blue Cross Updates, if any Redesigning all programs for 2027, PEPM’s going away to a flat fee. As soon as changes are finalized, BCI will share with Gallagher and clients, and will provide recommendations. Gallagher Updates, if any Takeaways from the last committee meeting. Putting together some exhibits to address some of the claims concerns. Reviewing programs with BCI and other TPAs. Happy to hear and address any questions the committee has on the presentation at the last Benefits Committee meeting. Next Meeting Topics Standard topics. Adjournment Motioned ED, 4 Ayes adjourned at 11:44am.