HomeMy WebLinkAbout4-15-26 MinutesCity of Meridian Employee Benefits Plan Trust
Board of Trustees Meeting Agenda
Wednesday April 15, 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
__O___ Alex Freitag __X___ Shawn Harper
__O___ Eli Daniel
Regular Attendees
__O____Scott Howell __O___ Destiny Bradley
___O___ Laurie Churella __X___ Dan Malloy
___X___ Allan Bosch __X___ Reba White
Approval of Minutes – Attached None
Reports (Action may be taken if Necessary)
Monthly Experience Reports
Report uploaded to Trust Teams file.
Reporting through February.
February: Medical total plan cost – Net loss ratio 89.39%, down XX% 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.
20 high cost claimants, 4 exceeded Stop Loss. Prior plan year 1 over stop loss.
Dental – Loss ratio 92.6%, prior plan year 96.2%.
Vision – Loss ratio124.6%, prior plan year 140.0%.
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:
Profit and Loss statement as of February 28, 2025: Net Income $158,837.50
Bank Account $1,801,247.85, contributions lagging and will be deposited tomorrow putting the balance above surplus.
Quarterly Financial Reports Next quarterly report due May 30, 2026 (2026 Quarter 1).
Discussion and Action Items
Council Presentation Sent to Board today for review. Board reviewed presentation draft.
Need to add a slide to discuss direction of market analysis or RFP.
If moving carriers, will be starting the financial process all over again.
With claims down 26% allows the Trust to see those savings as opposed to being fully-insured, the carrier would retain those savings.
Trust Counsel Letter of Engagement Board discussed the document and the cap amount. Board agreed the budget cap should be $30,000, effective 4/1/26. Each
April 1st we should renew contract and obtain the insurance coverage documents. Motioned by CB, seconded by SH, all ayes.
Trust Counsel Work Plan Discussion Questions/requests for legal counsel should be routed through Christena with Reba and Bill cc’d on all communications.
To start we will be sharing all trust information via a OneDrive file with Allan including the most recent DOI findings.
Need to budget for legal services in the coming fiscal year as the cost of doing business. Much like we do for the administrative.
Additional Follow up from DOI letter Reviewed findings 9 and 10. Mike Stahl, actuary with Gallagher.
Finding #9 - There was an implicit opinion when signing the IBNR, but Gallagher has updated the IBNR to include a formal opinion. Adjusted the IBNR margin from 10% to 20%.
Finding #10 – Gallagher updated the IBMR to call out the Admin Fees (2 months) run-out in the margin calculations.
Payments of bills, if any Audit bill from Eide Bailly $15,100 for 2025 Financial Audit. Motioned by CB, seconded by SH, all ayes.
Blue Cross Updates, if any Medical claims first 3 months: 2025 1.93M, 2026 1.38M 28.6% lower overall, 19% lower total medical and pharmacy spend. Trending good for this year. High
claimants are significantly lower than the same period last year.
Some groups trending higher, some lower. For COMEBPT doing better as a population in 2026. With the continuation of the programs in place such as Smart Shopper.
Gallagher Updates, if any Not present.
Benefits Committee –
Next Meeting Topics
Benefits Committee - DOI findings state discussions need to be occurring in the Trust meeting, on record rather than the Benefits Committee.
Adjournment Motioned by CB at 12:02pm