04/27/2021 - Laserfiche WebLink

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6 9. A) 10:00 A.M. DISCUSS & TAKE ACTION REGARDING HALL COUNTY HEALTH INSURANCE RENEWAL — Matt Wullenwaber with Mid-American Benefits was present to review the renewal of the health insurance plan. He met with the insurance committee and audit committee and the medical premiums are going up. He provided information to the board reading the current plan and the proposed renewal with Berkley. He contacted 12 different carriers and based on the claim history there were 8 declines and Berkley Life was the best offer. The committee addressed ways to improve the plan and will continue to look at more of the items that will not impact the plan participants. There are some advocacy and plan engagements that could be positive and also help control the cost. Medical inflation by itself it at 6.8% and the increase on the RX side is 8% to 12%. They historically see price increases on the prescriptions in January and July. In January it was 3.4% increase. Without doing anything and taking management steps medical inflation goes up and there are new therapies coming out and some of those come with a big price tag. He reviewed the renewal with Berkley Life & Health and the proposed funding level. • Total monthly fixed cost is $103,073.04 • Annual Fixed cost is $1,236,876.48 • The specific contract is a 12/18 year plan it provides a 6 month protection for the county • The Affordable Care Act ow requires coverage to be unlimited so there is an increase in the number of large claims. • The county assumes the risk of$75,00 on all plan participants • The aggregate specific is $100,000 that is a direct premium savings to the county this can be on one or several plan participants • The lasers are separate and is a risk management tool that the county assumes the liability on but if not used it is the dollars are still there they are at $1,260,000 • The client funding is at a 9% increase maximum cost for singe is $1,083.74 maximum cost for family is $2,625.78 • Monthly maximum cost is $488,988.08 • Annual Maximum cost is $5,867,856.96 Quandt asked if COVID might affect the claims and Matt stated there were no elective surgeries but it did not change any ongoing claims it was a down turn but that may change next year. Quandt expressed concern that people who had COVID may have future long term problems. B) AUDIT COMMITTEE RECOMMENDATION — INCREASING MEDICAL PREMIUMS BY 9.0% AND KEEPING DENTAL & LIFE PREMIUMS THE SAME —the recommendation is a 9% increase and to keep the dental and life insurance the same. 6