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Consultant outlines self-insurance and level-funded options; commissioners press for solutions to VEBA/cash-in-lieu costs
Summary
A benefits consultant from Marsh McLennan Agency briefed the board March 12 on public-employee health-plan options including PEB/PEBB pools, ICHRA, fully insured plans, level-funded plans and self-insurance; commissioners asked how to reduce county exposure from existing cash-in-lieu/VEBA payments reportedly costing the county millions.
FRANKLIN COUNTY, Wash.
At the March 12 workshop the county heard an extended presentation on employee health-benefit options from Matt Henderson, a benefits consultant with Marsh McLennan Agency. The presentation surveyed a range of approaches and flagged self-insurance and non-carrier level-funded models as the most promising long-term approaches to contain rising health-care costs.
Henderson explained pros and cons of several options commonly discussed by local governments: joining a large pool such as the Public Employees Benefits (PEB) board or a county insurance fund; adopting an individual coverage HRA (ICHRA) or other defined-contribution approach; continuing on a fully insured group plan; moving to a level-funded plan; or adopting traditional self-insurance with stop-loss protection.…
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