HomeMy WebLinkAbout4-28-26 Memo_4Q.2025-Feb.2026 Financial StatusNA-
CE IDIAN:---
MEMORANDUM
DATE: APRIL 28, 2026
TO: MAYOR AND CITY COUNCIL
FROM: CITY OF MERIDIAN EMPLOYEE BENEFITS PLAN TRUST BOARD
RE: CITY OF MERIDIAN EMPLOYEE BENEFITS PLAN TRUST: 2025 Q4-FEBRUARY 2026
FINANCIAL STATUS
Purpose:
Update the Mayor and City Council on the financial status of the City of Meridian Employee Benefits
Plan Trust.
Current Financial Summary:
2025 Q4 (October 1, 2025 — December 31, 2025)
• Total Surplus at end of quarter $2,589,727
• Minimum Surplus Requirement $2,243,701
• Reserves $346,026
January 1, 2026 — February 28, 2026:
• Medical and Pharmacy: Down 15%
• Medical claims: Down 23%
• Pharmacy: Up 5.5% PEPM
• The net loss ratio has improved to 89%
Claims are stabilizing slightly and the increase in the contributions is ensuring minimum surplus is
being met on a month -to -month basis.
Rolling 12 months total costs are just up 1.3%, total claims are up 4.9%, but are mitigated by the 2026
increases to the plan contributions.
Trust Board reviewing additional plan design changes for 2027 to assist with mitigating additional
increases.
Recommendation:
Perform a market check so we can demonstrate due diligence through actuarial validation and
targeted market testing without exposing the plan to unnecessary disruption.