Town Council Study Session Thursday, February 5, 2026

Prescott Valley Town Council · February 5, 2026

0:00/10m

10:11

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2:00

4:00

6:00

8:00

10:00

Staff presentation: proposal to move from fully insured to self-funded health plan

Presentation

0:08 → 1:44(1m 36s)

Speaker 2 (Staff presenter) outlined a proposal to transition the town’s employee medical coverage from a fully insured plan to a self‑funded model, engaging a third‑party administrator (TPA) to continue using the current United network to minimize disruption. Speaker 2 said programmatic changes are expected but that the change is primarily financial and that staff would seek feedback and return with comparative rates; staff proposed implementing the TPA ahead of May open enrollment for a self‑insured plan year starting July 1.

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Staff presented a plan to move the town's employee health coverage from a fully insured model to a self-funded plan using a third‑party administrator; council members asked about financial risk, required reserves and the difference between an internal service fund and a Section 115 trust. Staff said it will return with rate comparisons and a recommendation for seed money ahead of May open enrollment and a proposed July 1 plan start.

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Transcript

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