Study Session at 5:15 pm W - Rock Valley College
Study Session at 5:15 pm W - Rock Valley College
Study Session at 5:15 pm W - Rock Valley College
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ROCK VALLEY COLLEGE<br />
Vital Signs - Health Care Costs / Benefits<br />
Upd<strong>at</strong>ed by Barb Woodsmall, HR 04-09-12<br />
Reviewed by Sam Overton, Admin, 04/<strong>15</strong>/2012<br />
Health Care costs represent 63% or $8,126,557 of the $12,917,424 Total Benefits Expenditure<br />
Other Benefits include St<strong>at</strong>e SURS, Life Insurance, Employer FICA, Grant SURS, Tuition Waivers & Reimbursements,<br />
Sabb<strong>at</strong>ical, Wellness, Moving Expenses<br />
These are the Health Care costs ONLY. In FY 12, we realistically budgeted health costs to balance the budget.<br />
Conclusion: Current month is below target, YTD trend below budget<br />
January 2012 began the claims transition from Allied to BCBS (Blue Cross Blue Shield).<br />
We have included the inform<strong>at</strong>ion received to d<strong>at</strong>e from both, Allied and BCBS.<br />
The claims may be more unpredictable over the next few months with run-off of claims.<br />
The current healthcare claims trend could be caused by several reasons:<br />
1. Retirements over the last 12 months, reducing the Employee only and Spouse (adult) claims<br />
2. The last few claims years may have been unusually high claims years<br />
3. Overall <strong>College</strong> healthcare participants age decreasing with retirements and new hires<br />
4. Continued shift from the PPO to HMO, PPO claims paid as incurred, HMO fixed cost plan<br />
5. Informed consumers (Employees) with working spouse making family health insurance decisions<br />
For July 2011, Employees covered under the Preferred Provider Organiz<strong>at</strong>ion (PPO) are 346<br />
under the Health Maintenance Organiz<strong>at</strong>ion (HMO) are 80<br />
November 2011 is below the straight line budget, YTD Actual is below FY 10 & 11 Actual & FY 12 YTD Budget<br />
December 2011 is below the straight line budget, YTD Actual is below FY 10 & 11 Actual & FY 12 YTD Budget<br />
January 2012 is below the straight line budget, YTD Actual is below FY 10 & 11 Actual & FY 12 YTD Budget<br />
February 2012 is near the straight line budget, YTD Actual is below FY 11 Actual & FY 12 YTD Budget<br />
The transition from Allied to Blue Cross Blue Shield continues<br />
March caught up for the low amount from January and February<br />
In March, we will retrace the BCBS Admin fees to assure accuracy<br />
March 2012 is below the straight line budget, YTD Actual is below FY 11 Actual & FY 12 YTD Budget<br />
4/<strong>15</strong>/2012 Page 3<br />
R:\Reports\Board\Vital Signs\<br />
FY12 Benefits-Monthly Health Care Costs.xls\Conclusion
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