Trust board approves stop-loss renewal effective July 1, 2025

Trustees voted to approve the stop-loss renewal that will take effect July 1, 2025, after a presentation and marketing review by Chris (consultant).

Chris briefed the board on the renewal options and said the preliminary renewal had shown a 14% increase to the individual specific limit (ISL) and a 16% increase to aggregate stop-loss (ASL). Through marketing and negotiation, he said the team reduced the ISL increase to an overall 5% change, with a resulting premium cost of about $433,000 for the ISL component; the ASL increase remained roughly as initially quoted. “Through marketing and negotiations, we were able to secure an overall 5% increase to the ISL… total cost of 433,000,” Chris said. He also reminded trustees a final decision was needed by May 15 to lock the negotiated rates.

A trustee moved and a second was recorded during the meeting; after the roll call of “Aye,” the chair announced the motion carried. The meeting transcript does not list individual yes/no votes by name; the board recorded the motion as approved.

Chris discussed optional design choices the board could consider, including raising the ISL to $325,000 for roughly $33,000 premium savings and retaining an experience refund feature that historically yielded reimbursements the consultant said might exceed the premium savings. He recommended proceeding with the firm renewal of the current contract and left the item open for trustee questions prior to the motion.

Recorded notes from the presentation stated the current contract structure referenced a $300,000 individual specific deductible. The board approved the renewal and staff were instructed to notify the insurer by May 15 to secure the negotiated terms.