Minutes of November 20, 2006

Board Room

 

I.   Call to Order

Kay Nickel called the meeting to order at 3:50 pm.

 

II.   Adoption of Agenda

The agenda was revised and adopted to include the Consultant’s Report.

 

III.   Approval of Minutes

The minutes from the October 26^th meeting were approved as written.

 

IV.   Financial Report

Darla provided the financial reports for October. She noted that there was an increase of $87,430 in the fund balance for the month and an increase of $397,191 for the year; 4 CD’s were purchased totaling $380,000; prepaid expenses for the consultants has been exhausted since the beginning of this fiscal year; payments for HMA and THM have been caught up for a total of $22,752 (August – October); HMA claims are less this month compared to a year ago; NMHC claims are lower than a year ago and overall less for this fiscal year. Darla reported that the number of employees on HMA is less than last year (959 for October 2006 versus 1000 for October 2005). The fund balance for the month is $6,513,667 compared to $4,875,582 a year ago. The overall assets for the beginning of this fiscal year total $7,677,677 compared to $6,032,582 a year ago.

 

V.   Consultant’s Report

Sean provided information on the paid claims experience and a copy of the Supplement to the August 2006 Consultant’s Report. The paid claims experience report provided information on self-insured medical and prescription claim activity for the first 3 quarters of the 2006 plan year. The total plan costs including paid claims, fixed costs etc. amounted to $6,822,148 or 91.2% of the recommended funding level. Claims costs per employee have increased from $675.37 to $680.45 or .75%.



 

VI.   Review of annual report and budget for the Office of Financial Management (Darla)

Darla provided a draft of the Annual Report – Local Government Self-Insured Employee Health Benefit Programs and reviewed it with the trustees. She will bring the final report to the December 11^th meeting.

 

VII.   Open Enrollment & Plan Participation Numbers (Molly)

Wednesday, November 15^th was the final day of open enrollment. Molly reported that there was a fair amount of plan movement with fewer employees choosing PPO1 (only six new members). She will provide the final numbers at the December 11^th meeting.

 

The flex plan membership continues to grow with approximately 193 new enrollees and 30 dependant care members. Molly said that in the last five years there has been an increase in membership. She said that HR plans to promote the dependant care program more actively during open enrollment next year.

 

VIII.   Other

Molly thanked Sean for his help resolving some questions relating to medical coverage for district employees with special issues.

 

IX.   Annual Calendar

No additions or changes were made to the Annual Calendar.

 

X.   Adjournment

The meeting was adjourned at 4:15 pm.

 

 

Sincerely,

 

 

Mike Gunn

Secretary