Subject:
Title
2023 Group Health Plan Design Changes
End
Fiscal Impact:
Potential estimated additional savings of $3,247,000 based on plan design recommendations made by the EBIAC with the concurrence of Human Resources staff, if adopted by the Board. Combined with budgeted employer premium increase of 8% and the EBIAC recommended employee premium increase of 8%, an additional $3,570,000 in premium revenue is generated resulting in a projected $6,817,000 impact on the group health plan.
Dept/Office:
Office of Human Resources / Employee Benefits
Requested Action:
Recommendation
That the Board approves a Group Health Insurance program for CY2023 as recommended by the Office of Human Resources/Employee Benefits and the County's Employee Benefits Insurance Advisory Committee (EBIAC).
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Summary Explanation and Background:
The actuarial projections for the 2023 plan year pursuant to F.S. 112.08 estimate the following plan performance if there were no plan design or premium changes made for 2023:
2023
Revenue
$61,268,000
Expenses
$70,768,000
Estimated Gain/-Loss
-$9,500,000
This information was provided to the County's Employee Benefits Insurance Advisory Committee (EBIAC) by the Office of Human Resources/Employee Benefits for their consideration along with the County's Benefits Consultant's analysis of the current medical trends and financial position of the self-insured group health plan.
The EBIAC was tasked to evaluate several plan design options that would help the group health plan mitigate its future plan costs. The following Plan Design recommendations were made by the County's Employee Benefits Insurance Advisory Committee (EBIAC) and supported by the Office of Human Resources.
* Increase the Employee Premium contributions by 8% to equal the increase budgeted for employers in CY 2023. Fiscal Impact: Approximately $420,000.
* Medical Care Management - The EBIAC opted to recommend accessing the more aggressive Cigna HMCM Preferred Enhanced Car...
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