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Healthcare Update

Healthcare Update. 2014 Proposal September 17, 2013. Affordable Care Act Plan Design Changes. Annual Limits Pre-existing Condition Exclusions Dependent Coverage for Age 26 Excessive Waiting Periods Limits on Cost-Sharing. Affordable Care Act Wellness Incentives. Tobacco Usage Rewards.

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Healthcare Update

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  1. Healthcare Update 2014 Proposal September 17, 2013

  2. Affordable Care ActPlan Design Changes • Annual Limits • Pre-existing Condition Exclusions • Dependent Coverage for Age 26 • Excessive Waiting Periods • Limits on Cost-Sharing

  3. Affordable Care ActWellness Incentives • Tobacco Usage • Rewards

  4. Other Healthcare Changes • Healthcare Market Place - Exchanges • Employer Mandate Delayed • Taxes and Fees *PCORI/CER Fees - $1 per covered life *Reinsurance Fee - $375K annually *Insurer Fee – 2.9% of premium (MA, DN, VS only)

  5. Other Healthcare Changes • Employer mandates regarding “Affordability” and offering “Minimum Value” coverage – delayed until 1/1/15. • Employer mandate regarding offering coverage to all employees working at least 30 hours a week – delayed until 1/1/15.

  6. Proposed Healthcare Changes • Employee Benefits Committee • Retiree Benefits Committee

  7. Proposed Healthcare Changes

  8. Proposed Healthcare Changes • 2014 Premium Rates Increase HMO Plan POS/PPO Plan Wellness Center Plan – No change *Refer to handout

  9. Retiree Plan Update • Out of Pocket from $500 to $750 • Deleted 5% Coinsurance for Catastrophic Coverage • Increase Monthly Premium 8.37%

  10. Why Ask Employees To Pay More • Cost of healthcare rising nationally • Healthcare reform changes - Added Taxes and Fees • Projected $2 mil budget shortfall • Long term cost sharing strategy of 25/75 employee/employer ratio

  11. Budget Impact • FY14 - $2 Mil Shortfall Projected

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