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Belmont council hears self‑funded health plan option as UnitedHealthcare renewal looms
Summary
HUB International told Belmont City Council that steep claims volatility and the League of Municipalities trust closure left the city with a single full‑coverage bid from UnitedHealthcare; HUB presented a self‑funded, Pareto captive stop‑loss model that could limit rate volatility and reduce pharmacy spend while requiring a larger first‑year budget outlay.
Belmont City Council on March 16 heard a detailed presentation from HUB International outlining alternatives to the city’s fully insured employee health plan after the North Carolina League of Municipalities closed its insurance trust in 2025, compressing the procurement timeline.
Hannah (city staff) told the council the closure left Belmont suddenly market‑exposed and, because of a poor two‑year claims history, UnitedHealthcare was the only major carrier offering full coverage. Donna Nixon, senior vice president at HUB International, said the city’s loss ratios have been volatile — "loss ratios as high as 358%" in some months — and that actuaries are projecting renewal increases in the 25–50% range for the coming July–June plan year if the city remains fully insured.
The presentation focused on a self‑funded alternative using a Pareto Health…
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