MOTION By Board Chair Balsan, SECONDED BY Vice Chair Newcomer, to APPROVE the draft minutes of the Self-Insured Healthcare Trust Board meeting held on March 3, 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

Other:

Ex-Officio Doug Sandstrom (Absent)

Passed - Unanimously

Sam Gish discussed the executive summary details for the claims experience for fiscal year 2022. He mentioned the claims were up 9% due to growth and the subscriber increased by 13% and Goodyear has experienced the best loss ratio over the last 3 years reviewed at 74.2%. The total per employee per month (PEPM) costs were down by 4%, the medical claims costs were down $3 per employee per month and the pharmacy claims were down by 12%. Sam reviewed the plan year snapshot and experience by plan which shows all plans are performing as expected based upon the plan being proactive in keeping costs low. The top prescription drugs and top injectables were also reviewed. Sam discussed the large claimants and that 63 members make up the large claimants and the shock claimants (claims that reach the threshold of $25K) were down by 11%. 

Jared Askelson discussed the unaudited Trust Fund Statement for June 30, 2022. He provided the trust board with status of the trust fund by stating there was $13M in total sources, $10.6M in total uses and $2.4M in total net assets. The trust fund had $8.3M at the end of the plan year and $633K of IBNR was added back into the trust fund to maintain a total balance of $8.9M in the restricted reserve. Jared reminded the trust board that the restricted reserve requirement is $5.2M and stated the trust fund has done well to exceed the reserve requirement. 

Erica Emmons discussed Cigna's report which shows expenses incurred versus the GBS report shows which expenses paid. She went over the total trend of 8% per member per year, the increase in medical plan spend at 13.6% and decrease in pharmacy plan spend at 5.9%. She recapped the changes that were made last plan year that contributed to the decrease in the pharmacy plan spend. The generic prescription drugs utilization increased by 2% and provided a total savings of $214K. She discussed the city's generic trend utilization rate is at 90.8%. She also explained the virtual care that Cigna provides through MD Live, Behavioral Health and through Cigna providers.