Subject:
Title
Approval of Group Health Plan Design Changes
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Fiscal Impact:
Implementation of the changes to the County's group health plan as recommended by the Employee Insurance Benefits Advisory Committee (EBIAC)is estimated to have a financial impact of approximately $4,030,400 to the County's self-insured group health plan.
Dept/Office:
Human Resources
Requested Action:
Recommendation
It is requested that the Board of County Commissioners approve plan design changes for calendar year 2025 as recommended by the Employee Benefits Insurance Advisory Committee (EBIAC).
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Summary Explanation and Background:
The actuarial projections for the 2025 plan year pursuant to F.S. 112.08 estimate the following plan performance assuming an 8% increase in employer premium contributions and no plan design changes:
2025 Projections
This information was provided to the County's Employee Benefits Insurance Advisory Committee (EBIAC) by the Office of Human Resources 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. As discussed at the Budget Workshop on 2/29/2024, the overall goals as it pertains to the County's self-insured group health plan are to ensure continued financial sustainability of the plan and promote simplicity for employees utilizing the plan.
The EBIAC was tasked to evaluate several plan design options that would help increase revenue and reduce costs for the group health plan. Attached is the 2025 Plan Strategy presented to the EBIAC by the County's consultants and the corresponding recommendations made after careful consideration and discussion.
In summary, the proposed changes include:
o Sunset the current HRA program. The current HRA program consists of employer contributions of either $500 or $1000 claim credit for eligible employees. These funds can be used for the limited purpose of covered medical and pharmacy charges...
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