Saint Mary’s College Employee Benefits Advisory Committee (EBAC)
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Saint Mary’s College Employee Benefits Advisory Committee (EBAC) February 2014 Meeting February 13, 2014
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Saint Mary’s College Employee Benefits Advisory Committee (EBAC). February 2014 Meeting February 13, 2014. EBAC Meeting – February 2014. Agenda – Next 3 meetings Welcome / Introductions – EBAC Update Review and Discussion of the EBAC basic tenets Identify future additional tenets - PowerPoint PPT Presentation
Transcript of Saint Mary’s College Employee Benefits Advisory Committee (EBAC)
Saint Mary’s CollegeEmployee Benefits Advisory Committee
(EBAC)
February 2014 Meeting
February 13, 2014
EBAC Meeting – February 2014
Agenda – Next 3 meetings
1. Welcome / Introductions – EBAC Update
2. Review and Discussion of the EBAC basic tenets
3. Identify future additional tenets
4. Plan for Community Meeting
5. Timeframe and Schedule for 2014 Process
EBAC Meeting – February 2014
2014 EBAC Initiative:
A re-examination of what and how Saint Mary’s College provides their employees with employee benefits; the vendors, the offerings, the budget and the competitive needs of the community.
EBAC Meeting – January 20142014 EBAC Initiatives – Basic Tenets
Originally developed as part of the first HIRC process in 2006 for the 2007 plan year
Designed to articulate the values of the college and provide a framework for our decisions then and in the future
Addressed what was perceived as the most significant issue at the time; dependent affordability and college budget planning
EBAC Meeting – January 20142014 EBAC Initiatives – Basic Tenets
Do these tenets need to be modified/limited/expanded?
Are there other concepts or practices which should be codified as a tenet?
What process (if any), outside of this group, should be used in re-validating our tenets ?
What timeframe should we give ourselves to do this ?
Having these basic tenets in place facilitates the work of staff and outside vendors
EBAC Meeting – February 2014
Review and discuss each existing tenet based on:
Original Intent/Context and results
Impact of the tenet on the plan, participants and the college
Marketplace Implications of the tenet
Is it still applicable ? Are modifications needed
Is more data or research needed ?
EBAC Meeting – February 2014
Basic Tenets - Contribution Strategy:
• Employee choice of Kaiser / non-Kaiser
• Maintain a ‘Low/no-cost’ plan
• Reflect cost difference
• Stay within the target budget
• Ease of communication and administration
• Support coverage for dependents
EBAC Meeting – February 2014
Original Intent/Context and Results:The plan has always been viewed as one risk sharing pool and has always offered choice of benefit levels and delivery models. Prior years have seen multiple plans offered, the current 3 plans are the fewest number of options.
Employee choice of Kaiser / non-Kaiser
EBAC Meeting – February 2014
Impact on plan, participants and the college:
Marketplace implications:
Employee choice of Kaiser / non-Kaiser
EBAC Meeting – February 2014
Original Intent/Context and Results:This tenet was in response to the move to add an employee contribution to both maintain the colleges budget but also increase resources available for dependent costs.
Maintain a ‘Low/no-cost’ plan
EBAC Meeting – February 2014
Impact on plan, participants and the college:
Marketplace implications:
Maintain a ‘Low/no-cost’ plan
EBAC Meeting – February 2014
Original Intent/Context and Results:When there are cost (premium rate) differences between the plans are offered the contributions should reflect that difference. This allowed us to charge different amounts for each plan.
Reflect cost difference
EBAC Meeting – February 2014
Impact on plan, participants and the college:
Marketplace implications:
Reflect cost difference
EBAC Meeting – February 2014
Original Intent/Context and Results:In order to manage the growing cost of benefits a consistent framework was built to articulate the college’s financial contribution in a way that all members (especially the Budget Committee) could understand.
Stay within the target budget
EBAC Meeting – February 2014
Impact on plan, participants and the college:
Marketplace implications:
Stay within the target budget
EBAC Meeting – February 2014
Original Intent/Context and Results:The contribution model in place at the time of these tenets was complicated and difficult to both communicate and administer. Whatever was developed needed to be both easy for employees to understand and non0burdensome on HR/Payroll administration.
Ease of communication and administration
EBAC Meeting – February 2014
Impact on plan, participants and the college:
Marketplace implications:
Ease of communication and administration
EBAC Meeting – February 2014
Original Intent/Context and Results:When first developed this as in response to the communities feeling that the cost of dependent care was getting too expensive. Cost for the employee only coverage was fully covered by the college so it was a conscious decision to consider charging a little to employees so the cost for dependents could be subsidized at a higher rate. Based on this tenet, dependent participation increased the first 2 years and has consistently remained at the current level ever since.
Support coverage for dependents
EBAC Meeting – February 2014
Impact on plan, participants and the college:
Marketplace implications:
Support coverage for dependents
EBAC Meeting – February 2014
Are there additional tenets to consider?
Women’s Health
Wellness
EBAC Meeting – February 2014
Timeframe and Schedule for 2014 Process• Frequency of EBAC Meetings– Monthly (Next meeting is 2/28)
• Public Forum Process– TBD
• Leadership buy in– ALL of us must work to involve
• Define deliverables
EBAC Meeting – February 2014
2014 EBAC Initiatives –
Thank you for your participation !
Please forward all questions to Eduardo
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