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Consultants outline $8M–$9M in potential savings by moving retirees to Medicare Advantage; council urged to act before Aug. 13
Summary
City-Parish insurance consultants recommended aligning retiree benefits with active employees and expanding Medicare Advantage enrollment to capture substantial federal subsidies and reduced claims; consultants also recommended renegotiating pharmacy benefits for additional savings.
Insurance consultants hired by the City-Parish presented a detailed report on Aug. 6 on the status of employee and retiree health benefits, telling the Metropolitan Council that administrative and plan design changes could produce multimillion-dollar savings.
Kevin Gardner and Michael Bridal of HUB International walked the council through claims data, retiree enrollment and options that would reduce the city’s medical spend. They said about 1,000 retirees currently participate in a Medicare Advantage option, while roughly 1,800 Medicare-eligible retirees remain on the city’s active group medical plan. The consultants presented a 2024 claims baseline and used actuarial trend to estimate 2026 costs.
The consultants identified three near-term opportunities:
- Align retiree coordination of benefits with active employees and incentivize retirees to enroll…
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