Self-Insured Healthcare Trust Board Goodyear City Hall, Room 117 190 North Litchfield Road Goodyear, AZ 85338 |
.png) |
|
CALL TO ORDER
ROLL CALL
- Present:
- Board Chair Michael Balsan; Vice Chair Wade Foster; Board Member Jennifer Preyer-Bonton; Board Member Richard Newcomer; Ex-Officio Doug Sandstrom
- Staff Present:
- Human Resources Director Lyman Locket; Deputy Director of Finance Jared Askelson; Total Compensation & HRIS Manager Jeanni Ruddy; Benefits Analyst Chanda Washington; Human Resources Analyst Kristin Zipprich
- Attendees:
- Sam Gish, GBS Consultant; Erica Emmons, Cigna Strategic Account Executive; Rick Shuckerow, GBS Consultant
- AYE:
- Board Chair Michael Balsan, Vice Chair Wade Foster, Board Member Jennifer Preyer-Bonton, Board Member Richard Newcomer, Ex-Officio Doug Sandstrom
Passed - Unanimously
- AYE:
- Board Chair Michael Balsan, Vice Chair Wade Foster, Board Member Jennifer Preyer-Bonton, Board Member Richard Newcomer, Ex-Officio Doug Sandstrom
Passed - Unanimously
| BUSINESS |
1.
APPROVE MINUTES
MOTION By Board Chair Balsan, SECONDED By Boardmember Newcomer, to APPROVE the draft minutes of the Self-Insured Healthcare Trust Board meeting held on January 27, 2022. The motion carried by the following vote:
- AYE:
- Vice Chair Wade Foster, Board Chair Michael Balsan, Board Member Jennifer Preyer-Bonton, Board Member Richard Newcomer, Ex-Officio Doug Sandstrom
Passed - Unanimously
2.
FY22 Claims Experience
Sam Gish discussed the Summit Report FY22 claims experience and explained the plans are running exceptionally well with a 79.90% loss ratio. The city has significant growth with 67 new subscribers and 113 new members joining the plan. The spending is down by 7% year to year and 15% overall. Shock claimants are down by 25%. There is an estimated surplus $1.27M. Sam highlighted that there had not been a single month of deficit to date.
Sam reviewed the medical/prescription rating calculation, which provides the composite amount for monthly funding per employee. Current funding exceeds the required funding, assuming up to 9.5% trend.
Sam reviewed the medical/prescription rating calculation, which provides the composite amount for monthly funding per employee. Current funding exceeds the required funding, assuming up to 9.5% trend.
3.
Stop Loss Discussion
Sam Gish led the Stop Loss discussion focusing on the Cigna quotes provided. He explained how the laser quote impacts the individual stop loss. By including the laser, the city would pay the claims of the individual with the laser up to $1M and all other enrollees will maintain the current stop loss threshold of $250K. Sam discussed the various options and the per employee per month (PEPM) costs outlined in the quotes and options.
Rick Shuckerow added that we have one quote and additional quotes anticipated and available for negotiations. He also stated in general the city is in an overall good position.
Sam mentioned the Cigna quotes are good through April 3rd and in the next month we should have more data.
Rick Shuckerow added that we have one quote and additional quotes anticipated and available for negotiations. He also stated in general the city is in an overall good position.
Sam mentioned the Cigna quotes are good through April 3rd and in the next month we should have more data.
4.
Medical Plan Changes
Jeanni Ruddy reviewed with the Board a couple of medical items the city considered adding to the three medical plans. The first was breast reduction for medical necessity only. The expected claims cost over time is 0.1%. The second was weight loss options. Cigna reviewed what options are currently available under the plans which include behavioral coaching and approved weight loss medications. Surgical weight loss procedures are not being considered at this time.
5.
Setting of FY23 Medical Plan Premiums
Boardmember Sandstrom stated, based on everything we are seeing the recommendation is to leave premiums the same for FY2023.
MOTION By Board Chair Balsan and SECONDED By Vice Chair Foster, to APPROVE to keep FY23 medical plan premiums the same.
- AYE:
- Vice Chair Wade Foster, Board Chair Michael Balsan, Board Member Jennifer Preyer-Bonton, Board Member Richard Newcomer, Ex-Officio Doug Sandstrom
Passed - Unanimously
6.
Setting of FY23 Dental PPO Premiums
Board member Sandstrom stated, based on everything we are seeing the recommendation is to leave premiums the same for FY2023.
MOTION By Board Chair Balsan and SECONDED By Boardmember Preyer-Bonton, to APPROVE to keep FY23 dental PPO plan premiums the same.
- AYE:
- Vice Chair Wade Foster, Board Chair Michael Balsan, Board Member Jennifer Preyer-Bonton, Board Member Richard Newcomer, Ex-Officio Doug Sandstrom
Passed - Unanimously
- AYE:
- Board Chair Michael Balsan, Vice Chair Wade Foster, Board Member Jennifer Preyer-Bonton, Board Member Richard Newcomer, Ex-Officio Doug Sandstrom
Passed - Unanimously
| NEXT MEETING |
The board discussed the next meeting to be scheduled in August to review year-end results.
| ADJOURNMENT |
There being no further business to discuss, Chairman Balsan adjourned the meeting at 3:46 p.m.
Respectfully Submitted by:
Respectfully Submitted by:
| _____________________________ Lyman Locket, Human Resources Director |
__________________________
Michael Balsan, Chairman
|
Date:___________________ |