HomeMy WebLinkAbout8-16-2010 EMPLOYEE BENEFIT PLAN & TRUSTEE MTG .- � �
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EMPLOYEE BENEFIT PLAN
TRUSTEE MEETING
HELD ON AUGUST 16, 2010
The meeting was called to order by ElJay Waite at 9:10 a.m.
Those in attendance: Monica Jones, ElJay Waite, and Mary-Kaye Stewart
DISCUSSION ITEM(S):
• Reviewed financial reports as of June 30, 2010. Reports included balance sheet,
income statement, and bank statement.
• Nate Marshall from Moreton & Co. met with E1Jay and Monica to update them
on the renewal.
o Blue Cross has agreed to lower the Medical/Rx from a 5% increase to 3%.
The rate will increase from $39.49 per employee per month (PEPM) to
• $40.67.
o There is an additional fee for Blue Cross Behavioral Health Management
as a result of the Mental Health Parity law. The fee is $1.10 PEPM
o Vision will increase 5% to $1.44 PEPM.
o The Employee Assistance Program (EAP) fee will increase from $1.76 to
$1.93 PEPM.
o Blue Cross has proposed an increase from $1.00 PEPM to $1.25 PEPM for
COBRA administration. Benefits Manager Co. can provide this service for
$.75 PEPM, so we have advised Moreton & Co. that we want Benefits
Manager to administer our COBRA.
o Moreton & Co. are requesting an increase in their commission from $7.15
PEPM to $7.35 PEPM.
o Delta Dental has agreed to provide services for $3.80 PEPM.
o Regence Life and AD&D have been negotiated down for a savings of
approximately 18% or $5,000 annually.
o Moreton & Co. reviewed the option of a short term and long term
disability plan with Regence. A disability program would cost the City
approximately $62,500 annually in premiums for an employer paid
program with a 60% salary benefit. Another option would be to provide a
core benefit of 40% and let the employee buy-up to the 60%, which would
cost the City approximately $54,000 annually.
� o Moreton & Co. continues to review and evaluate wellness options.
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• MOVED by Monica Jones, SECONDED by ElJay Waite to adjourn at 10:00 a.m. and
schedule the next Trustee Meeting for October 25, 2010 at 9:00 a.m.
Those voting yes: Unanimous.
MOTION CARRIED
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