September 2015. CoreSource HealthLink MedTrak New Directions TASC Tatman Benefit Advisors,...
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Transcript of September 2015. CoreSource HealthLink MedTrak New Directions TASC Tatman Benefit Advisors,...
Health Plan
September 2015
Vendors
CoreSource HealthLink MedTrak New Directions TASC Tatman Benefit Advisors, Inc. Guardian HM Life
Non-medical Comparison
GL and AD&D Current Option 2
Benefit $10,000 flat 1 time annual pay max $100,000
Rate $0.14 $0.13
Volume $3,030,000 $10,168,550
Est. Annual Cost $5,090 $15,863
Non-medical Comparison (cont)LTD Current Option 2
Benefit 60% to $4,000/Month
60% to $6,000/Month
Elimination Period 150 Days 90 Days
Pre-existing conditions
3/12 3/12
Integration Full Family Full Family
Rate (per $100 CMP)
$0.20 $0.25
Volume (CMP) $791,518 $842,034
Est. Annual Cost $18,996.43 $25,261.02
Funding Rates for 2016
2015 Projected 2016
Employee $454 $469 Board Paid
Spouse $478 $494 Personal Pay
Children $319 $330 Personal Pay
3.4%
Base Plan
Funding Rates for 2016 (cont)
2015 Projected 2016
Employee $487 $504 Board Paid
Spouse $507 $524 Personal Pay
Children $339 $351 Personal Pay3.4%
Buy-Up Plan
Committee Consensus
For Plan Year 2016 it was the consensus of the Benefits Committee to:
1. Discontinue the current wellness program2. To increase:
1. Life Insurance and AD&D to 1X annual pay-maximum of $100,000
2. LTD at 60% compensation to $6000 with a 90 day waiting period
3. To maintain 2015 rates for 2016 pending embedded benefits