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Boone County adds high-deductible HSA option and second PPO to employee benefits; board approves
Summary
Boone County Board approved adding a high-deductible health savings account (HSA) plan and a high-deductible PPO alongside the existing PPO, with the county offering seed contributions to HSAs and staff saying the change could reduce premiums for the county.
The Boone County Board on April 10 approved adding a high-deductible health savings account (HSA) option and a high-deductible PPO to the countyemployee benefits package, a change staff said is designed to lower the county's premium costs ahead of the July 1 renewal.
The additions were approved on a roll-call vote after a presentation by Becky Tobin, county staff. Tobin said the new options would be offered in addition to the county's current PPO plan and that the county would contribute $1,500 to a single HSA and $3,000 to a family HSA to encourage employee enrollment. "The county would contribute $1,500 to a single HSA and 3,000 family," Tobin said during her presentation.
Tobin told the board the changes come after renewal modeling by IPBC showed a nearly 14.8% rate increase on the county's existing policy and that offering additional plan options could reduce total premiums. She said the county expects to educate employees on choices and that, depending on which employees switch plans, the county could see substantial savings. "I would be happy if even half. We could break that half a million dollars even down to 250,000. I would consider that a success," Tobin said when asked about potential savings.
Board members debated the usual trade-offs of shifting enrollment toward high-deductible plans, noting risk that healthier employees moving could leave higher claimants concentrated on other plans. After discussion a motion to approve the additions was moved by Mr. Loxton and seconded by Mr. Wahlberg. The motion passed on a roll-call vote: Josh Shoemaker (yes), Brian Schneider (yes), Bridal Curry (yes), Alyssa Patterson (yes), Tom Wahlberg (aye), Dana Logsdon (yes), Marion Thornberry (yes) and Carl Johnson (aye). The motion carried.
Tobin said implementation work will continue over the next months so the new plans can be offered for the July 1 renewal; IPBC will provide education sessions for employees.
Approval details and next steps for enrollment will be handled by county staff and the county's benefits administrator, Tobin said.
