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IBC Florida Retired School Employee Benefits Consortium

IBC Florida Retired School Employee Benefits Consortium . IBC Retiree Benefits Program Presented By: John Robinson, CEBS Janice Bush, CEBS RobinsonBush, Inc. May 12, 2012. Presentation Overview. What is the IBC? How Will the IBC Retiree Consortium Work?

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IBC Florida Retired School Employee Benefits Consortium

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  1. IBC Florida Retired School Employee Benefits Consortium IBC Retiree Benefits Program Presented By: John Robinson, CEBS Janice Bush, CEBS RobinsonBush, Inc. May 12, 2012

  2. Presentation Overview • What is the IBC? • How Will the IBC Retiree Consortium Work? • How Will the IBC Benefits Program Impact • Retirees? • Unions? • School Districts? • What Needs to be Done to Participate? • Feedback

  3. What is the Independent Benefits Council? • Formed in 2001 to Assist School Districts with Benefit and Retirement Related Initiatives • Member Organizations • Florida Education Association • Florida School Boards Association • Florida Association of District School Superintendents • Florida Association of School Administrators • Decisions on Initiatives Reached Through Consensus of Organizations • Transparency of Operations

  4. Why Have a Retiree Benefit Initiative? • Concerns • Long Term Status of Health Insurance Subsidy • GASB Liability • Possible State Mandates on the Selection of Health Plans • School District Selection for Retirees is Limited • Few Options Within Individual School Districts • Many School Districts Have Only Local Coverage • Cost of Coverage is too High for Many Retirees • Many Retirees Get Own Coverage at Age 65 • Retiree Benefits Can be Confusing

  5. IBC Retiree Consortium • IBC Formed a Statewide Florida Retired School Employee Benefits Consortium (IBC Consortium) • School Districts Will Have the Option to Join the IBC Consortium Through an Interlocal Participation Agreement • The IBC Consortium Will Consolidate Retiree Benefits Under a Single Public Agency • All Eligible Retirees Over 65, and Dependents, Will Get Their Benefits Through the IBC Consortium • The IBC Consortium Will be Managed Through an Independent Board of Directors

  6. IBC Retiree Consortium Board of Directors

  7. What Benefit Options Will be Available? • Offer Several Health Plan Options, Not Available in Open Market, in Each Region • Medicare Advantage • Zero Premium • Premier Plan • Medicare Supplement (Medigap) Plans A, F, and N • Medicare Part D Pharmacy • Basic Plan • Comprehensive • Offer Non-Medical Insurance Plan Options • Offer Retiree Coverage Beginning on 1-1-2013 With Enrollment in November

  8. Important Benefit Features • Retirees Will Have Regional, State, and National Choices and Can Select Only the Coverage They Need • Retirees Will Have Several Non-Medical Insurance Options to Meet Their Needs • Retirees Who Dropped District Coverage Will Have the Option to Come Back in the Future • Retirees Moving to Another Part of Florida, or the Nation, Will be Able to Change Coverage • The IBC Consortium’s Only Focus Will be Retiree Benefits

  9. How Will Retirees Get Help With Their Benefits? • An IBC Consortium Benefits Booklet Will Contain Summary Information on All Benefits • Enrollment Meetings Will be Held in Each Participating School District by the Consortium • Personal Assistance Will be Available to Help Retirees Understand Their Options • Enrollment Assistance Will be Available • Website and Telephone Customer Assistance Will be Available Throughout the Year • Each School District Will Have a Local Retiree Representative to Answer Questions

  10. How Will Retirees Benefit? • Retirees Will Have More Benefit Choices and Can Select Only What They Need • Choices Will be Tailored to Retiree Needs • Retiree Premiums Will be Significantly Lower Than Active Employee Premiums • Personal Assistance Will be Available to Help Retirees With Their Questions and Options • Retirees Will be Able to Change Coverage if They Move • Retirees Will Have a Trusted Advocate in the IBC Consortium

  11. How Will Unions Benefit? • Improved Benefits for Retirees • More Choices for Medical and Pharmacy Options • Lower Premium Options • Portability of Coverage • Improved Protection of Retiree Benefits • Improved Access for Retirees Who Left the School District Plans to Re-Join • Cost of the Active Employee Health Plan May be Cheaper • Retiree Benefit Concerns Will be Addressed by a Dedicated Retiree Service Staff

  12. How Will School Districts Benefit? • Significant Reduction in GASB Liability • Cost of the Active Employee Health Plan May be Cheaper • Lessoning of School District Administration for Retirees • Procurement of Services Consolidated in the IBC Consortium • Annual Enrollment and Benefit Booklets Become the Responsibility of the IBC Consortium • Customer Service Provided by IBC Consortium • Improved Options for Retirees

  13. What Needs to Be Done to Participate • School District Union and Management Review and Agreement to Concept • Review the IBC Consortium Documents • Consortium Interlocal Agreement • Consortium By-laws • School District Participation Agreement • Participating School District Acceptance • School Board Approval by August 22 for January 2013 Coverage • Payment of One-Time Administrative Fee • Schedule Meetings to Discuss IBC Consortium Program with Retirees

  14. IBC Florida Retired School Employee Benefits Consortium Feedback, Questions, and Comments

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