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Rankin County hears health insurance renewal; broker reports 7.7% net increase, pharmacy carve-out concerns
Summary
An insurance broker told the Board that renewal underwriting produced a preliminary 17% increase from the incumbent, leveraged down to an estimated 7.7% increase overall; pharmacy carve-out and two high-cost claim 'lasers' were highlighted as issues for future planning.
Rankin County officials on Dec. 2 reviewed the county’s employee health insurance renewal and were told the plan faces higher underwriting costs for 2025, with an estimated net increase of about 7.7% after negotiations.
Mickey Watkins, the county’s insurance representative, told supervisors that the county’s plan is self-funded and that per-member-per-month claims ran about $451 this year. “You all are self funded health plan… y’all were paid about about $451 for every single person that’s covered on your plan per month,” Watkins said. He reported approximately $14.6 million in paid retail claims (medical claims only, excluding pharmacy) and said the county’s Blue Cross Blue…
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