EBS reviews Jefferson County health insurance renewal with 0% premium increase

In a recent meeting held by the Jefferson County Supervisors, key discussions centered around the county's health insurance renewal for the upcoming 2025 plan year. Denise Dallas from EBS presented an overview of the insurance renewal process, highlighting the performance of the Integrated Group Health Cooperative Plan (IGHCP) and its implications for Jefferson County.

The IGHCP, which serves 54 entities and approximately 13,000 members, reported a 0% increase in the Wellmark portion of the health insurance plan for the upcoming year. This stability is significant, especially considering that the average renewal increase over the past 19 years has been around 3.09%. Jefferson County's performance was particularly noteworthy, with a loss ratio of just 57%, indicating that claims were significantly lower than the premiums paid.

Dallas explained that the county's self-funded insurance model allows for a more tailored approach to managing health care costs. Jefferson County has budgeted approximately $200,000 for claims, which aligns with their historical spending patterns. The county's claims experience has been favorable, with an average annual claim spend of $141,000, representing only about 17% of their maximum exposure of $814,800.

The meeting also addressed the potential for cost savings through adjustments to the insurance plans. While maintaining the current plan structure, supervisors discussed the possibility of consolidating into a single plan with a higher deductible, which could yield savings. However, any changes would need to balance cost with the benefits provided to employees.

In addition to health insurance, the meeting covered updates on dental, vision, and life insurance plans, all of which will see no changes in benefits or costs for the upcoming year. A new telehealth benefit aimed at preventative care will also be introduced, allowing employees to engage with their health care at no additional cost.

Overall, the discussions underscored Jefferson County's commitment to providing quality health benefits while managing costs effectively. As the county prepares for the 2025 plan year, the focus will remain on maintaining a balance between employee health needs and fiscal responsibility. The supervisors will continue to evaluate options for optimizing their health insurance offerings in the coming months.