HEALTH INSURANCE PROGRAM. Health Insurance Program Overview Historically experienced double-digit...
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Transcript of HEALTH INSURANCE PROGRAM. Health Insurance Program Overview Historically experienced double-digit...
HEALTH INSURANCE PROGRAM
Health Insurance Program Overview
Historically experienced double-digit premium increases through 2010
Developed Interdisciplinary Team Turned Program Upside Down in 2011
Self-Insured Added Clinic Concept Developed High-Deductible Health Plan
Promoted consumerism and saving
Final Year Fully Insured
2011 2012 2013 2014
$0
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
$3,500,000
$4,000,000
$3,174,000
$2,804,991
$2,941,128
$3,116,929$2,986,393
$3,445,000
$3,612,000
$3,733,000
$3,984,000
Actual CostsProjected Fully Insured
Medical Plan Costs Plan Costs
Includes ALL Medical Plan Program Costs*Projected Costs Based on Aon Hewitt Health Value Initiative
2013(national average for healthcare premium increases)
$7,082 $7,623 $8,151 $7,605$7,411 $8,697 $9,362 $9,762 $10,145
PerEmployee
Proposed Changes
Stop-Loss Insurance Carrier Ancillary Coverage Carrier
Stop-Loss Insurance
Limits City’s financial claim’s liability Pays claim costs over $125,000 per claim
Currently with BCBS Sought quotes from alternate providers
SunLife Proposal Provides a Decrease in Rate
Recommend change to SunLife for Stop Loss
Current BCBS Proposal SunLife Proposal
Quote Change Quote Change
$354,804
$417,342
$62,538 $279,934 ($74,870)
Stop-Loss Insurance Quotes
Ancillary Coverages
Includes: City-Provided Life Insurance and AD&D City-Provided Long-Term Disability
Insurance Employee Purchased Voluntary Dental Employee Purchased Voluntary Life
Insurance Employee Purchased Short-Term
Disability Current Carrier – Lincoln Financial
Ancillary Coverages
Employee-Paid Coverage 2015 Rates the Same for Both Providers Dental Voluntary Life Short-term Disability
Life & AD&D
Long-Term Disability
Lincoln Financial Proposal
Mutual of Omaha Proposal
Current/Renewal
Change Quote Change
$24,447 0 $29,685 $5,238
Ancillary Coverage Quotes
Lincoln Financial Proposal
Mutual of Omaha Proposal
Current/Renewal
Change Quote Change
$35,777 0 $48,161 $12,384
Ancillary Coverages
Recommend Change to Mutual of Omaha for Ancillary Coverage Mutual of Omaha previous provider Mutual of Omaha superior customer service
experience – both Employer and Employee related
Recommendations
Change to SunLife for Stop Loss Coverage
Change to Mutual of Omaha for Ancillary Coverage
Total Net Savings: $57,248
