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Bridal IA presents 2024–25 annual report to Garden City Council; agency reports nearly 6,500 covered lives in Idaho
Summary
Megan Lockwood, a director with Bridal IA, told the council the agency serves 124 agencies, covers nearly 6,500 lives across Idaho, has an annual budget of about $42,000,000 and recorded program savings of roughly $4,200,000 in the last plan year; she noted pharmacy rebates after switching to Smith Rx.
Bridal IA Health Insurance presented its 2024–25 annual report to the Garden City Council on Jan. 12, 2026.
Megan Lockwood, who identified herself as "a director with the triple I a," said the program now covers "124 agencies across the state" and "covers over almost 6,500 lives in Idaho." She reported the agency's annual budget is "about 42,000,000" and said the program produced roughly "4,200,000" in savings over the last plan year. Lockwood told the council the agency realized "almost $2,000,000 in our pharmacy rebates by moving to Smith Rx," which became the program's pharmacy benefit manager in October.
Lockwood said the group is governed by a board of trustees (chair: Dan Hammond of the City of American Falls) and described typical renewal assumptions: Bridal IA recommends planning for about a 10% agency budget buffer even though the program's average renewals have been about 6% over the last seven years.
She concluded by inviting questions and making hard copies of the report available to council members and the public.
What’s next: Council members did not ask for additional action during the meeting; staff and council may follow up on specific finance or plan questions in later work sessions if required.
