HomeMy WebLinkAbout2023 Employee Health Benefits Trust.FinalCity of Meridian Employee Benefits Plan Trust (COMEBPT)
Bill Nary, Trust Chair
May 23, 2023
BENEFITS
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The Team
The Trustees
Bill Nary, Legal – Chair
Alex Freitag, PW – Vice Chair
Christena Barney, HR – Trustee
Eli Daniel, IT – Trustee
Justin Northway, MPD – Trustee
Funding Sources
City of Meridian Budget
Employee Contributions
Excess Revenue
Partners
A.J Gallagher – Cindy Tealey, Scott Howell, Tasha Norman
Blue Cross of Idaho – Dan Malloy, Destiny Bradley
Delta Dental of Idaho – Lanae Dorroh
VSP – Sara Bolchi
City Benefits Committee
Christena Barney, Reba White, Debbie Hoopes – HR
Todd Lavoie, Carol Mitchell, Trish Hibler – Finance
Alex Freitag – PW
Matt Ferronato, Justin Northway – MPD
Eli Daniel – IT
Renee White – Parks
Vincent Koontz – Mayor’s Office
Bill Nary – Legal
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History
Implementation
Self-Funding Launch Date – January 1, 2020
Idaho Department of Insurance (DOI) Approval for Self-Funding
2020: January 2, 2020 for Medical
2021: October 26, 2020 for Dental and Vision
Broker, Consultants, Legal Counsel, Accountant hired in 2020
CPA Auditor hired in 2021 to audit 2020 year and each year after
Lessons Learned
Future
Continue to identify and implement plan designs that help reduce claims cost but also improve our member experience
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Required Surplus
In 2020 DOI required the Trust to have $1.3M in surplus to fund Medical
In 2021 – Current, DOI requires the Trust to have $1.8M in surplus to fund Medical, Dental and Vision
The next few slides will indicate whether the Trust had a deficit or gain in the surplus funding amount
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Trust Contribution Rate Development
2020 Ended Year with a loss of surplus of $90,146
March 2020 Worldwide Pandemic began, industry uncertain of impacts to medical plans
City Funded $130,000 to remain compliant with DOI Regulations
Board of Trustees approved addition of MDLive Telehealth and Diabetes No-Copay Program
2021 Ended Year with a loss of surplus of $445,563
Self-funded Dental and Vision
Worldwide Pandemic continued, vaccines and antigen tests widely available, costs still uncertain
High Claims Year (3 Pre-Mature Babies, 2 High Cost Medications and 1 Cancer)
City Funded $185,000 to remain compliant with DOI Regulations
Board of Trustees approved addition of ChoiceDocs and Cost Advisor Tool for Medical, these are no cost to the Trust, but assist with plan savings
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Trust Contribution Rate Development
2022 Ended Year with a gain of surplus of $146,130
Approximately $191,000 in additional costs associated with COVID-19
City Funded $254,000 to remain compliant with DOI Regulations
Completed a dependent audit to ensure eligibility criteria was being met with all enrollees
Board of Trustees approved addition of Coupon Maximizer and Mail Order Prescription Co-Pay for Medical and ‘HOW’ (Health through Oral Wellness) Program for Delta Dental
2023 YTD a gain of $Q1 DOI Statement – To Update
Board of Trustees approved addition of SmartShopper for Medical
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Contributions Paid vs Claims Paid
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Trust Contribution Rate Development for Medical
2020 increase was 1.2%
2021 increase was 6.97%
2022 increase was 6.8%
2023 increase was 7.9%
2024 increase anticipated 2.1% (still pending actuarial review, certification and DOI acceptance)
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Thank you!
City of Meridian Employee Benefits Plan Trust
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