2006 Executive Council Input
Director of Member BenefitsInsurance
Submitted by Russ Mitchell
July 30-31, 2006
Marriott Hotel
Albuquerque, New Mexico, U.S.A.
August 2006 2
Overview
• Looked at a number of different policy options
• NO options were “wonderful” when insuring one employee and family
• Blue Cross Blue Shield Anthem provided the best “mix and match” options (7 different levels and option sets)
• “Key Care PPO” vs “Virginia Standard”
August 2006 3
• Various deductible limits available typically high 2500-5000
• Various coinsurance limits 0-20%• Buffet styled to avoid unneeded coverages
– Maternity– Dental – Supplementary accident
• Manages costs by high deductibles • Plan costs are just over 1000• Allows access to “any” doctor
Virginia Standard Policy
August 2006 4
Key Care PPO
• Wide range of deductables (300 – 5000)
• Various coinsurance 0% -20%
• Max out of pocket varies a bit too from 0 to $1500
• Lower monthly costs ~600 - 850
• Difference could go into a health savings account to cover coinsurance and deductables
August 2006 5
Some health care math
• If the policy costs 718 a month and has a 1500 deductible per year 8616 is the cost of insurance.
• And if we allocate 1000 per month (12000)
• Leaving 3384 for a health savings account and ample to cover the out of pockets.
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