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Understanding Benefits of BOP Plans: A Comprehensive Overview for Congregations

This overview explores the Benefits of the Board of Pensions (BOP) plans, emphasizing their economic aspects and participation metrics. It addresses the need for tailored benefits based on church size and congregational resources, examines participation rates among teaching elders and lay employees, and compares the costs associated with minimum and maximum dues. Additionally, the role of public exchanges and the Affordable Care Act in providing accessible healthcare coverage are detailed, with insights into premium and cost-sharing subsidies designed to support low-income families.

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Understanding Benefits of BOP Plans: A Comprehensive Overview for Congregations

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  1. Benefit Alternatives Pat Haines SVP, Benefits

  2. Topical Overview • Defining the Need • The Economics of the BOP Plan • Public Exchange Basics • Available Resources

  3. Defining the Need • Church Size • Congregational Resources • Growth in Part-time Ministry

  4. The Economics of the BOP Traditional Plan • Current Demographics • Minimum vs. Maximum Participation • Average Cost of Coverage • Relationship between Dues and Cost

  5. Covered Population Demographics • Members participating in Traditional Medical Plan as a result of their employment with a church or employing organization: • 11,575 Total Members • 66% (7,659) are Teaching Elders • 34% (3,916) are Lay employees

  6. Participation at Minimum • 18% (1,385) of Teaching Elders participate at the 2014 minimum of $42,000 • 62% (2,435) of Lay members participate at the 2014 minimum • 33% (3,820) of all members participate at the 2014 minimum

  7. Participation at Maximum • 1.9% (145) of Teaching Elders participate at the 2014 maximum of $124,000 • 1.5% (57) of Lay Members participate at the 2014 maximum • 1.7% (202) of all Members participate at 2014 maximum

  8. Population by Salary 80% of Lay members 42% of Teaching Elders 1.8% of Lay members 2.8% of Teaching Elders

  9. Average Medical Plan Costs • Participating at Member-Only Members Covering at Least One Dependent + • Per Family Unit =

  10. Relationship Between Dues and Cost • The Value of Community Nature • 2014 Minimum Dues $9,660 = 74% of $13,000 Average Cost • 2014 Maximum Dues $28,520 = 219% of $13,000 Average Cost

  11. Relationship Between Dues and Cost The Value of Community Nature • 219% of Average Cost • Average Cost • $13,000 • 74% of Average Cost • 2014 Minimum Dues Participation Basis • 2014 Maximum Dues Participation Basis

  12. The Affordable Care Act • Primary Objectives • Address Access and Affordability • Approach • Individual Mandate • Uniform Coverage Standards • Premium Tax Credits

  13. Public Exchanges: Accessible and Affordable Coverage as of 1/1/2014 • Exchange Essentials • State based • Designed for individuals and small businesses • Metallic plan options

  14. Public Exchanges: Accessible and Affordable Coverage • Core Functions • Consumer Assistance • Plan Management • Eligibility • Enrollment • Financial Management

  15. Public Exchanges: Current State • Marketplace Decisions: • State Based: 17 (includes DC) State operates all exchange activities • Federally Facilitated: 27 HHS operates • Partnership: 7 State operates activities for Plan Management and/or consumer assistance

  16. Marketplace Decisions

  17. Public Exchanges: Current State • Open Enrollment: October 2013 – March 2014 • Enrollment statistics • Early concerns • Systems issues • Consumer confusion • Narrow networks • Geographic (urban vs. rural) variability: choices and cost

  18. Public Exchanges: How They Are Designed To Work • Plans Offered: Minimally, one silver and one gold • Plan Types: HMO, PPO, High Deductible, provided they achieve actuarial value • Distinguishing Product Characteristics: provider network, customer service, ancillary products

  19. Public Exchanges: Premium Subsidy • Eligibility: 85% of those purchasing coverage on exchange will likely qualify • Household income < 400% of FPL ($95,400 family of four) • No access to “affordable” coverage through employer • Impact • Caps coverage cost (for 2nd lowest cost Silver Plan) at 2% - 9.5% of household income

  20. Public Exchanges: Cost-Sharing Subsidy • Enriches Silver Plan • Reduces out-of-pocket maximum • Converts Silver to Platinum for those earning < 200% FPL ($47,700 for family of four)

  21. Understanding the BOP Benchmarks • Traditional Plan (23% effective salary) • Minimum Dues Basis ($42,000) $805/month; $9,660/year • Median Dues Basis ($54,500) $1,363/month; $16,350/year • Maximum Dues Basis ($124,000) $2,377/month; $28,520/year

  22. Understanding the BOP Benchmarks • Affiliated Benefits Program

  23. Understanding the BOP Benchmarks • Seminary Students

  24. Understanding the BOP Benchmarks • Medical Continuation Coverage

  25. Public Exchanges: How To “Shop” • It All Starts Here https://www.healthcare.gov/

  26. Public Exchanges: Some Pricing Samples

  27. Public Exchanges: Some Pricing Samples

  28. Public Exchanges: Some Pricing Samples

  29. Public Exchanges: Some Pricing Samples

  30. Public Exchanges: Some Pricing Samples

  31. Public Exchanges: Let’s “Shop” • It All Starts Here https://www.healthcare.gov/ • And Now Here https://www.healthcare.gov/find-premium-estimates/

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