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Pennridge staff review stop‑loss renewal, insurer negotiations and a specialty‑drug savings program
Summary
Benefits advisor Jim Pine presented stop‑loss renewal options, reporting a negotiated 7.5% renewal from RMTS with one large "laser" exposure remaining; the district also reviewed a PrudentRx program that could lower out‑of‑pocket costs for about 20 members and save the plan roughly $70,000 a year.
Pennridge School District staff reviewed proposals for the district’s July 1 stop‑loss renewal and described an optional specialty‑drug savings program during the June 10 committee meetings.
Jim Pine of Conrad Segal told the committees that the district’s current stop‑loss policy has an individual attachment point of $225,000 and that the current carrier is RMTS. RMTS’s initial renewal proposal generated a higher premium and large “laser” (individual‑specific) exposures; after negotiations using a competing Avalon proposal, Pine said RMTS reduced the renewal increase to about 7.5% (roughly $900,000–$905,000 in annual premium) and eliminated one of two $500,000 lasers,…
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