augustana benefits committee
DESCRIPTION
Augustana Benefits Committee. Spring 2012 Campus Discussions. The Good News…. 18 months of self-insured experience Better service & vendor relationship Plan performance better than estimated 100% Wellness coverage Increase in wellness visits Increase in flu shots & wellness testing - PowerPoint PPT PresentationTRANSCRIPT
AUGUSTANA BENEFITS
COMMITTEESpring 2012
Campus Discussions
THE GOOD NEWS… 18 months of self-insured experience
Better service & vendor relationship Plan performance better than estimated 100% Wellness coverage
Increase in wellness visits Increase in flu shots & wellness testing Should create early intervention & decreased costs to
the plan Plan participants continue to be good
consumers Generic Incentive Program In-network providers utilized Referral program for specialized care
Addition of Voluntary Dental Benefit
ON THE HORIZON… Unknown effects of
healthcare reform Changes to our
participant profiles Effects from increased
wellness activities and spending
Changes in the Quad City Health Care profile.
ROLE OF THE BENEFITS COMMITTEE Evaluate performance of the plan
and suggest changes Listen to campus community &
suggest changes. Look for the best return for the
college’s investment Representatives
Faculty: Tenured & non-tenuredAdministration: HR & non-HRStaff: Dining, Facilities, Support
TOPICS WE WANT TO DISCUSS
Cost of single vs. family insurance
Thoughts on Wellness as a way to control costs.
Possible plan enhancementsVoluntary Life buy-up65+ Health Plan
Your feedback on current plan and possible changes.
COSTS AT OUR PEER INSTITUTIONS
Family
Employee +1
Employee
0 100200300400500600700
600
425
40
415
276
80
400
261
80
IA/IL Small PrivatesKaiser ReportAugustana
$1000 deductible plansKaiser report includes em-ployers with 200+ employ-ees
COST AT OUR PEER INSTITUTIONS
Family Employee +1 Employee 0
100
200
300
400
500
600
700600
425
40
403
262
108
504
393
106
513475
50
329280
69
403
262
108
606
416
48
AugustanaWittenburgGustavusIL WesleyanLutherOH WesleyanUniv. of Puget Sound
NO EASY ANSWERS Prospect of raising cost of single
coverageLarger impact on those at lower end of
earnings scaleMay cause those with double coverage to
drop the Augustana Plan.May be unaffordable to someWould allow us to divert premiums to assist
in family coverage. Thoughts?
NO EASY ANSWERS Prospect of lowering cost of family
coverageMay help with recruitment – particularly of
faculty members.May allow others to join the plan.Would require higher cost for single
coverage.Moves the group of unhappy people
Thoughts?
NO EASY ANSWERS Wellness Incentive Pricing
Should there be different pricing for employees that participate in some level of wellness activity?
Wellness screeningsWeight loss or exercise/fitness participationOther things that would incent healthy
choices? Thoughts?
NO EASY ANSWERS Tiered Benefits
Different pricing based on earningsOne amount if you earn less than $X/yearHigher amount if you earn more than
$X/yearDoesn’t take into account overall family
earningsMay adversely affect those near the “break
point”
Thoughts?
NO EASY ANSWERS 2nd Alternative within our plan
Lower cost coverage with lower benefits?Higher deductible ($5,000 per family) with
lower priceSmaller or limited pool of providersHealth Savings Account model
Thoughts?
OTHER BENEFITS IDEAS Voluntary “buy-up” of life insurance
Currently 1.5 times your annual salaryBuy the amount you want without
underwritingTake advantage of large group discount
Additional health care choice for active employees age 65+Would act as a Medicare supplementEmployees could keep this coverage at their
own expense when they leave.
OTHER IDEAS OR QUESTIONS?
Thanks for your time and input!