Everett School Employees Benefit Trust
April 21, 2008
Board Room
4:00 pm
Attendance
| Also Attending
| Recorder
|
Mike Gunn
| Darla Van Duren
| Susan Sacha
|
John Morrill
| Randi Seaberg
| |
Wayne Kettler
| Sean White
| |
Susan Lindsey
| Curt Haldorson
| |
Molly Ringo
| Gail Buquicchio
| |
Betsy Selders
| | |
I.
Call to Order
The meeting was called to order by Mike Gunn at 4:01 pm
II.
Adoption of Agenda
The agenda was approved as written.
III.
Approval of Minutes
The minutes from the January 14th and February 11th meetings were approved as written.
IV.
Wellness Coordinator (introduction/presentation)
Randi introduced the district’s new Wellness Coordinator, Gail Buquicchio. Gail will start on May 12th working part-time and will move into the position full time on June 2nd. She thanked the trustees for the opportunity that this new position gives her and the district and gave a brief presentation on wellness and her plans. Gail would like the trustees to answer the questions on page three of her handout and send them to her. She will respond to the questions at the next meeting.
V.
Financial Report
Darla reviewed the February and March financials with the trustees.
The February report showed an increase of $718,493 in the fund balance. Investments included two mortgage/bonds, full call of one mortgage/bond, full call of three CD’s and maturity of three CD’s. HMA claims were $347,788, less than February 2007; ESI claims were $40,859, more than February 2007. The comparison for the year showed that the fund balance was $10,733,322 compared to $7,757,252 a year ago with overall assets for the fiscal year totaling $11,954,322 compared to $8,921,252 a year ago.
The March report showed an increase of $152,288 in the fund balance. Investments included the purchase of one mortgage/bond, five CD’s, maturity of five CD’s and full call of one CD. HMA claims were $35,292 less than March 2007 and ESI claims were $91,029 less than last March. The comparison for the year showed that the fund balance was $10,885,610 compared to $7,881,740 a year ago and the overall assets for this fiscal year total $12,106,610 compared to $9,045,740 a year ago.
VI.
3rd Quarter Investment Report
Curt reviewed the purchases that Darla had listed on the financial reports. He distributed the projected monthly income summary and bond maturity distribution sheets and discussed them with the group.
VII.
Annual Investment Policy Review and recommendations from investment advisor
Curt reviewed the investment guidelines with the trustees and asked if there were other options beyond what we are doing and emphasized care and caution. He reported that a large amount of principal would be coming in the next few months (about a half million) and recommended staying the course with the current investment policy.
VIII.
Review previous years medical claim data (continued from 2/11/08 meeting)
Paid Claims Experience – Sean reviewed the report. He said the trust was far below benchmarks and the general conclusion is that we are off to a great start.
Cost and Utilization Review –The document was developed to review the underlying cost and utilization trends on the Trust’s self-insured plans. Mercer used information available through D2Hawkeye, a data reporting company to compile information for the review. This method will also give them the ability to continue to monitor the statistics going forward and use the expanded data to factor into the future strategy for wellness and health management. In summary, the report shows that the primary contributing factor in the cost reduction is a decrease in the utilization of services. Mercer recommended that the trust maintain 2007 funding levels into 2008 as actual costs were well below projections.
Mike asked if we could get a similar report for prescriptions and Molly asked for a similar report for Group Health and PacifiCare.
IX.
Begin preliminary discussion with consultants on plan renewals
The 2009 Renewal Planning document was reviewed. Sean asked for direction on whether there were any issues or plan changes that the trustees would like Mercer to pursue.
HMA Self Insured PPO Medical – Items to be looked at include:
·
Cover the costs of mammograms.
·
Make alternative care available. .
·
Option of house calls.
ESI Self-Insured Pharmacy – No changes
Sun Life Stop-Loss - have a renewal coming up January 2009. Recommend getting a renewal from Sun Life.
Group Health Fully-Insured HMO Medical --- No changes
PacifiCare Fully-Insured HMO Medical --- No changes
MetLife Fully-Insured Life and AD & D Insurance - no renewal due, no changes
Standard Fully-Insured STD, LTD and EAP Insurance --- Molly suggested looking at EAP and ways to stimulate interest, etc. Sean will look into this and provide some information to the trustees. He will get some quotes from other EAP vendors.
X.
Quarterly EAP Report
Randi reported that nine people used EAP services for counseling and legal advice with most being employees. 56% heard about the service through Human Resources. The largest percentage related to grief/bereavement and Partner/Relationship issues followed by stress, family and depression concerns.
XI.
Review Operational Manual
Trustees will review their manual and bring questions or suggestions to the next meeting. This is a homework task. Mike will remind people about a week ahead of the meeting.
XII.
Review of Annual Calendar
No changes
XIII.
Other
No items
XIV.
Adjournment
The meeting was adjourned at 5:30
Sincerely,
John Morrill
Secretary
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