County receives insurance renewal update: overall increase about 14%, employee claims below expectations

At the March 12 meeting, county staff and a benefits presenter updated commissioners on the county’s insurance renewals and employee-benefits claims.

The presenter said negotiations reduced the original Trident proposal by about $60,000 and that most policies renewed effective March 1, except certain property and equipment coverages that involve multiple carriers. He said exposures such as vehicles and public-officials coverage are tied to budget and expenditures and that, overall, the renewal would have driven about a 5% rate increase while the final result was roughly a 14% overall increase.

On employee-health claims, staff reported the county is about $725,000 below expected claims through nine months of the plan year. Only two claimants exceeded $45,000 so far during the nine-month period; the largest claim was a joint replacement. Presenters said preliminary stop-loss renewal numbers are expected after carriers have time to review February claims and that early indications suggested reductions in claims and fixed costs for the June renewal.

Commissioners received the update and asked no substantive questions at the meeting.

Ending: Staff will continue to monitor stop-loss renewal figures and report back when carriers finalize June renewal numbers.