1 valley schools management group study session december 3, 2013 ken hicks, cfo
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Valley Schools Management Group Study Session
December 3, 2013
Ken Hicks, CFO
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• Valley Schools Insurance Trust and Workers Compensation Pool– Financial Summary– Operational Summary
• Valley Schools Employee Benefit Trust– Financial Summary– Operational Summary– Summary of FY2014 Plan Changes
• Valley Schools Management Group– Financials
Overview
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VSIT-Financials
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VSWCP-Financials
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• When things go wrong• Why self insurance• Services provided• Insurance market overview• Excess insurance premiums
VSIT and VSWCP
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• VSIT loss run• Cost of risk• General and auto liability• Workers compensation• Student injuries
VSIT and VSWCP
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QUESTIONS AND DISCUSSIONVSIT AND VSWCP
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VSEBT-Financials
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Self Insured Claims =Medical +Pharmacy85% - 90%
Fixed Expenses
10% - 15%
Background/OverviewVSEBT Contribution (Premium) Breakdown
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• Compare like programs to accurately evaluate fixed expenses.– Self-Insured – School Districts– UnitedHealthcare– NOT participating in a Trust
or Pool
Fixed Expenses• Medical
Administration• Prescription Drug
Administration• Stop Loss Coverage• EAP/Managed Care• COBRA Services• Consulting
Background/OverviewVSEBT Fixed Expense Fee Comparison
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District 1 & 2 Monthly Average $57.49PUSD Rate $53.04PEPM Savings $ 4.45PUSD Average Monthly Enrollment Count 2,874Total Annual Savings on Fixed Expenses $153,471
• The above PEPM rates have not been adjusted for differences in stop loss levels, pharmacy rebates or other contractual terms
• The above do not include dental, vision and life insurance savings
• The two Districts identified above is data from the FY2012-13.
Background/OverviewFY 2012-13 Fixed Expense Comparison/Annual Savings
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• Peoria Unified - $389• Deer Valley Unified - $444• Paradise Valley Unified - $362• AVG of 15 Self Funded Members - $343
Per Member Per Month (PMPM) Comparisons
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In 2013, the District had 28% reduction in total costs • Fixed expenses were reduced 23% to $1.8
million from $2.4; result of reduction in monthly average of employees on the plan
• Plan changes last year shifted enrollment to CDHP plans
Summary of Plan Changes
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• Bring parity to different health care plan design options• Reduce Health Savings Account (HSA) contributions • Modest increase to Traditional Plan buy up• All retirees moved to the ASRS retiree health care
program• Adding an additional dental plan and moving Delta
Dental to a dental buy-up option • Voluntary:
– Short Term Disability – Life Insurance for all Staff
Summary of Plan Changes
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QUESTIONS AND DISCUSSIONSValley Schools Employee Benefit Trust
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Valley Schools Management Group
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QUESTIONS AND DISCUSSIONValley Schools Management Group
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