Self-Funded Insurance Committee

CITY OF HENDERSON SELF-FUNDED INSURANCE COMMITTEE AGENDA Wednesday, November 17, 2021 Tuscany Conference Room 1:00 PM 240 Water Street – 3rd Floor Meeting Inquiries: (702) 267-1906 Henderson, Nevada 89015 NOTICE DUE TO THE TERMINATION OF THE STATE OF NEVADA EXECUTIVE DEPARTMENT DECLARATION OF EMERGENCY DIRECTIVE 006 AS OF MAY 31, 2021, IN PERSON ATTENDANCE WILL BE ALLOWED CONSISTENT WITH CDC GUIDELINES. IN ACCORDANCE WITH DECLARATION OF EMERGENCY DIRECTIVE 047, INDIVIDUALS SHALL BE REQUIRED TO COVER THEIR NOSE AND MOUTH WITH A MASK OR FACE COVERING IN A MANNER CONSISTENT WITH THE GUIDANCE ISSUED BY THE CDC, AND ANY SUBSEQUENT GUIDANCE ISSUED BY THE CDC. PLEASE CHECK WWW.CDC.GOV FOR ADDITIONAL INFORMATION. Notice to persons with special needs: For those requiring special assistance or accommodation to attend or participate in this meeting, arrangements for a sign language interpreter or services necessary for effective communication for qualified persons with disabilities should be made as soon as possible, but no later than 72 hours before the scheduled event. Please contact Courtney Redsull at (702) 267-1906 or TTY: 7-1-1 at least 72 hours in advance to request a sign language interpreter. You may also submit your request by using Contact Henderson. The Chairman reserves the right to hear agenda items out of order, combine two or more agenda items for consideration, remove an item from the agenda, or delay discussion relating to an item on the agenda at any time. Public comment will be taken at the designated Public Comment periods. Individuals will be limited to three (3) minutes and spokespersons for a group will be limited to ten (10) minutes at the discretion of the Chairman. The Chairman reserves the right to curtail abusive, offensive, inflammatory or repetitive comments that disrupt, disturb or otherwise impede the orderly conduct of the meeting. See NRS 241.030(4)(a). Examples of disruptive conduct include, without limitation, yelling, stamping of feet, whistles, applause, heckling, name calling, use of profanity, personal attacks, physical intimidation, threatening use of physical force, assault, battery, or any other acts intended to impede the meeting or infringe on the rights of the board and/or committee members, City staff, or meeting participants. Backup materials for agenda items can be found in the Office of the City Clerk or on the City's website at: http://www.cityofhenderson.com. To request backup materials, please contact Courtney Redsull at (702) 267-1906. Self-Funded Insurance Committee Meeting Page 2 of 6 Wednesday, November 17, 2021 - Agenda I. CALL TO ORDER II. CONFIRMATION OF POSTING AND ROLL CALL III. PUBLIC COMMENT Public Comment during this portion of the agenda must be limited to matters on the agenda. Individuals will be limited to three (3) minutes and spokespersons for a group will be limited to ten (10) minutes at the discretion of the Chairman. The Chairman reserves the right to curtail abusive, offensive, inflammatory or repetitive comments that disrupt, disturb or otherwise impede the orderly conduct of the meeting. In addition, any person willfully disrupting the meeting may be removed from the room by the presiding officer. See NRS 241.030(4)(a). Examples of disruptive conduct include, without limitation, yelling, stamping of feet, whistles, applause, heckling, name calling, use of profanity, personal attacks, physical intimidation, threatening use of physical force, assault, battery, or any other acts intended to impede the meeting or infringe on the rights of the board and/or committee members, City staff, or meeting participants. IV. ACCEPTANCE OF AGENDA (For Possible Action) V. NEW BUSINESS 1 MINUTES SELF-FUNDED HEALTH INSURANCE COMMITTEE SEPTEMBER 15, 2021 FINANCE DEPARTMENT For Possible Action. RECOMMENDATION: Adopt Self-Funded Health Insurance Committee meeting minutes of September 15, 2021. 2 MONTHLY FINANCIAL REPORT FINANCE DEPARTMENT For Information and Discussion Only City of Henderson Self-Funded Health Plan monthly financial report for September 2021. Self-Funded Insurance Committee Meeting Page 3 of 6 Wednesday, November 17, 2021 - Agenda 3 HEALTHSCOPE MONTHLY REPORT FINANCE DEPARTMENT For Information and Discussion Only HealthSCOPE Monthly Report for September 2021. 4 GALLAGHER BENEFIT SERVICES QUARTERLY REPORT FINANCE DEPARTMENT For Information and Discussion Only Gallagher Benefit Services quarterly report for 3rd Quarter 2021. 5 RETIREE HEALTH INSURANCE PREMIUM ASSISTANCE OVERVIEW FINANCE DEPARTMENT For Information and Discussion Only Gallagher Benefit Services historical report on the Retiree Health Insurance Premium Assistance program. Self-Funded Insurance Committee Meeting Page 4 of 6 Wednesday, November 17, 2021 - Agenda 6 STOP LOSS COVERAGE FOR PLAN YEAR 2022 FINANCE DEPARTMENT For Possible Action. RECOMMENDATION: Review various options for Stop Loss Insurance coverage for Plan Year 2022, select vendor and deductible level, and direct Committee staff to submit to City Council for approval. Review the summary of Stop Loss Insurance proposals for Plan Year 2022 from Berkshire Hathaway Specialty Insurance (BHSI) and Voya Financial (Voya) from the attached Stop Loss Analysis and Optimization Report and recommend a vendor and deductible level to City Council for approval. It should be noted that both bidders included a laser on one member which impacts the estimated premium and claims exposure line in the Stop Loss Insurance options listed below: Option #1 – Insure at Current Individual Deductible of $525,000.00 BHSI Estimated total annual premium: $496,089.00 BHSI Increase of 9.82% over current year premium BHSI Estimated premium and claims exposure: $696,089.00 Voya Estimated total annual premium: $450,570.00 Voya Decrease of 0.25% over current year premium Voya Estimated premium and claims exposure: $825,570.00 Option #2 – Insure at Individual Deductible of $550,000.00 BHSI Estimated total annual premium: $463,790.00 BHSI Increase of 2.67% over current year premium BHSI Estimated premium and claims exposure: $682,540.00 Voya Estimated total annual premium: $418,837.00 Voya Decrease of 7.28% over current year premium Voya Estimated premium and claims exposure: $812,587.00 Option #3 – Insure at Individual Deductible of $600,000.00 BHSI Estimated total annual premium: $417,923.00 BHSI Decrease of 7.48% over current year premium BHSI Estimated premium and claims exposure: $655,423.00 Voya Estimated total annual premium: $373,676.00 Voya Decrease of 17.28% over current year premium Voya Estimated premium and claims exposure: $786,176.00 Self-Funded Insurance Committee Meeting Page 5 of 6 Wednesday, November 17, 2021 - Agenda Option #4 – Insure at Individual Deductible of $700,000.00 BHSI Estimated total annual premium: $371,826.00 BHSI Decrease of 17.69% over current year premium BHSI Estimated premium and claims exposure: $571,826.00 Voya Estimated total annual premium: $316,342.00 Voya Decrease of 29.97% over current year premium Voya Estimated premium and claims exposure: $691,342.00 Option #5 – Insure at Individual Deductible of $750,000.00 BHSI Estimated total annual premium: $327,720.00 BHSI Decrease of 27.45% over current year premium BHSI Estimated premium and claims exposure: $496,470.00 Voya Estimated total annual premium: $279,946.00 Voya Decrease of 38.03% over current year premium Voya Estimated premium and claims exposure: $598,696.00 7 SELF-FUNDED HEALTH INSURANCE COMMITTEE CHAIRMAN FINANCE DEPARTMENT For Possible Action. RECOMMENDATION: Elect Committee chairman for calendar year 2022. Take nominations and elect the Committee chairman for calendar year 2022. 8 SELF-FUNDED HEALTH INSURANCE COMMITTEE VICE CHAIRMAN FINANCE DEPARTMENT For Possible Action. RECOMMENDATION: Elect Committee vice chairman for calendar year 2022. Take nominations and elect the Committee vice chairman for calendar year 2022. VI. CHAIRMAN\MEMBER COMMENTS The Chairman and Members may speak on any subject under this section of the agenda. Chairman and Members may comment on matters including, without limitation, future agenda items, upcoming meeting dates, and meeting procedures. Comments made cannot be acted upon or discussed at this meeting, but may be placed on a future agenda for consideration. Self-Funded Insurance Committee Meeting Page 6 of 6 Wednesday, November 17, 2021 - Agenda VII. SET NEXT MEETING VIII. PUBLIC COMMENT Items discussed under this Public Comment period cannot be acted upon at this meeting, but may be referred to a future agenda for consideration. Individuals will be limited to three (3) minutes and spokespersons for a group will be limited to ten (10) minutes, at the discretion of the Chairman. The Chairman reserves the right to curtail abusive, offensive, inflammatory or repetitive comments that disrupt, disturb or otherwise impede the orderly conduct of the meeting. In addition, any person willfully disrupting the meeting may be removed from the room by the presiding officer. See NRS 241.030(4)(a). Examples of disruptive conduct include, without limitation, yelling, stamping of feet, whistles, applause, heckling, name calling, use of profanity, personal attacks, physical intimidation, threatening use of physical force, assault, battery, or any other acts intended to impede the meeting or infringe on the rights of the board and/or committee members, City staff, or meeting participants. IX. ADJOURNMENT Posted not later than 9:00 a.m. of the third working day before the meeting, at the following locations: City Hall, 240 Water Street, 1st Floor Lobbies www.cityofhenderson.com https://notice.nv.gov