BHealth Care Update
Item Details
- Meeting
- October 4, 2022 – Board of Education Work Sessions
- Category
- 2. Work Sessions
- Type
- Information item
Public Content
*REVISED* 09/29/2022
Kenai Peninsula Borough School District
Health Care work session 10/4/22
At the end of FY22, the Employee Health Care reserve fund (unaudited) decreased by ($221,941) and interest (loss) on the reserve in the amount of ($45,127.52) bringing the total in the Employee reserve fund to $1,263,457.32 The Employer Health Care reserve fund (unaudited) decreased by ($1,711,075.56) and interest (loss) of ($121,753.80) totaling $2,408,801.05.
Attached are the June 30, 2022, year-end (unaudited) healthcare reports.
FY23 Health Care rates
The sub-committee of the Health Care Program Committee meets annually to determine the employee contribution rates for the year. This year the sub-committee had to set the rate for 7/1-12/31/22 and tiered rates for 1/1/23-6/30/23.
Beginning in January 2023, the healthcare plan will move to a tiered rate plan with 4 tiers. Employee only, employee + spouse, employee + child(ren) and employee + family.
Attached is the FY23 Health Care Program contributions.
FY23 RFP for Fully Insured Health Care
Our Health Care brokers Marsh & McLennan Agency (MMA) sent out a request for proposal (RFP) to insurance carriers in the State of Alaska to fully insure our health care plan. The RFP was sent to Premera, Aetna, MODA and the PEHT. Of the four insurance carriers, MODA and PEHT declined to offer a quote. Premera’s quote came in at 15% higher than our current self-insured projected rate and Aetna was 6% higher. Aetna did not quote dental or vision. MMA has reached out to Aetna regarding dental and vision. Aetna has indicated that they will not do vision, and the dental quote will be provided around the 6th of October. MMA has indicated the dental portion of our plan is about 8%.
Attached is the FY23 Executive Summary for the renewal and the email from PEHT declining to quote.