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Healthcare FY15

Healthcare FY15. Columbus Consolidated Government. FY14 Health Insurance Fund Year to Date Actuals (thru March 14, 2014). Budget YTD $ 16,291,667 Expenditures YTD $ 19,430,531 Fund Deficit ($ 3,138,864)

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Healthcare FY15

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  1. Healthcare FY15 Columbus Consolidated Government

  2. FY14 Health Insurance FundYear to Date Actuals (thru March 14, 2014) • Budget YTD $16,291,667 • Expenditures YTD$19,430,531 • Fund Deficit ($ 3,138,864) • In addition to our negative balance Year To Date for FY2014, we have $3.8 millionnegative net position for our FY2013 Health Insurance Fund due to Incurred But Not Reported Health Cost

  3. FY15 HEALTH PLAN PROJECTIONS (excludes Muscogee Manor) • Total Estimated Costs* $26,586,633 • (includes Active & Retirees) • Current EE Premiums $ 7,317,419 • (based on current enrollment and 6/1/14 rates) • Current ER Contributions $14,695,650 • (at $5,650 per employee) • Projected Deficit ($ 4,573,564) *Medical and Rx Claims, Admin and ACA fees

  4. Healthcare Options Summary • Muscogee Manor – Eliminate Liability; Long Term Savings • Spousal Exclusion • Cost Sharing Plan – 25/75% Employee/Employer • Pre-65 Retirees pay 50% of coverage, spouse and dependents 40%-0% over 5 years • Increase deductibles and copays • Increase Rx copays ***All Options are valued independently***

  5. Healthcare Options Valued

  6. Deductibles

  7. Deductibles

  8. Deductibles

  9. Employee Contributions Other options for Contribution Strategies may also be considered

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