Committee endorses resolution adding city officers as trustees to Cheyenne Health Benefit Trust

The Cheyenne Finance Committee on March 4 recommended Council approval of a resolution updating the designated trustees for the City of Cheyenne Health Benefit Trust, the city's self-funded health insurance account.

Human Resources representative Darren Hass presented the resolution and said it updates the specific city officers who serve as official trustees under the original trust agreement effective May 9, 2022. Hass said the original trustees included a former city attorney, Stephanie Boster, and a previous council president, and the resolution would add current City Attorney John Brody and Council Member Dr. Mark Rennie as trustees.

City Treasurer Robin Lott Gluckman answered committee questions about the trust's financial status. Lott Gluckman said the fund balance as of Jan. 31, 2025, was about $4,300,000. Darren Hass and staff said the actuarial rate (premiums divided by claims) was around 67% but noted three large claims had begun to be paid and that the rate could move closer to 75%. The committee discussed three major ongoing claims described by staff as: a cancer case, a very sick child and an individual with a serious eye issue. The committee also discussed the city's wellness program participation; staff said roughly 25% of employees had completed wellness participation requirements so far and that participation was increasing with four months left in the program year.

Moved by Moody and seconded by Esquivel, the committee recommended adopting the resolution; the committee took a voice vote and forwarded the recommendation to the Monday City Council meeting.

The transcript does not record a roll-call vote or amendments. Staff noted a target reserve goal of about $8,000,000 and that the fund had grown from about $3.5 million on June 30, 2024, to the current balance. The committee requested no additional immediate action beyond forwarding the resolution for council approval.