HomeMy WebLinkAbout09-04-2014 EMPLOYEE BENEFIT CITY O CALDWELL
EMPLOYEE BENEFIT PLAT
TRUSTEE MEETING
HELD ON SEPTEMBER ,2014
The meeting was called to order at 2:10 p.m.
Those in attendance: Monica Jones, Elf ay Waite, and Lois from Mercer
DISCUSSION ITEM(S):
As of June 30, 2014, trial balance and bank balance was $1,264,050 and a surplus
of$4467,299. Financial reports were reconciled and balanced.
0 Discussion about the re on-nmended funding rates and Cobra rates. Lois will
review funding rates and get back with trustees.
0 The Experience Report was reviewed for June 30, 2014. Overall, claims are down
12% from last year. There is only one large claim over $75,000. There was
discussion about how our wellness and fitness programs appear to be paying off.
• Mercer recommended a 4.8% increase to medical rates and a 13.7% decrease to
dental rates. Lois will send over detailed dental analysis and medical wellness
usage.
Discussion about the Wellness Incentive Program and including an annual
physical and recommended dental checkup in order to qualify.
Discussion about the Specialty Select Prescription Ilan. A letter will be sent only
to those employees that will be affected. There are approximately employees
that would be affected.
PA will not be included as a health trust benefit and will come out of Fund 86.
Discussion about Cigna LTD plan and the LAP (Life Assistance Program).. This
program will compliment the E P plan and will not conflict with it. A sample
enrollment for the LTD plan will be sent for HRI s review. The City paid LTD
plan will g into effect 10/1/2014 and the employee buy up option will go into
effect.1/1/2015.
Discussion wont Mercer's Benergy benefit portal. Lois reported that it will cost
the City approximately $1000 for the initial setup.
MOVED by EXJa ,SECONDED by Monica to adjourn at 3:15 p.m. The next trustee
meeting.is scheduled for January 21,2015 at 2:00 p.m.
Those voting fires: Unanimous.
MOTION CARRIED
CA/
City of Caldwell Employee Health Trust
Financial Statements
June 3 ,2014
BALANCE SHEET
As of June 3 0,2014
Assets
Cash 11264,050
Receivables(Cobra refund)
Total Assets 1,2645050
Liabilities
Accounts unt Payable -
Claims ZBT R($154,324 FY-2013) 212,002
Total Liabilities 212,002
Fund S ut1u 1,052,048
Total Liabilities&Surplus 11264,050
INCOME STATEMENT
T
October 1,2013 -June 30,2014
Revenues
Employer Plan Contributions 23038,887
Employee Plan Contributions 148,057
COBRA Premiums 133630
RX Rebate 17,093
Total Revenues 232179668
Expenses
Actual Claims Paid 1.43155952
Annual Audit 4.1500
Actual Plan Adinin Charges 400,337
Other Professional Services 29,580
Total Expenses 1,7501,369
Revenues over expenses 4675299
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