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International Association of Sheet Metal Air, Rail and Transportation Workers

International Association of Sheet Metal Air, Rail and Transportation Workers. HEALTH FUND REGIONALIZATION The Need to Press Forward NCCMP September 2013. Overview of Objectives/Concerns. We have been focusing on the spiraling cost of Health care Find ways to help control costs

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International Association of Sheet Metal Air, Rail and Transportation Workers

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  1. International Association of Sheet Metal Air, Rail and Transportation Workers HEALTH FUND REGIONALIZATION The Need to Press Forward NCCMP September 2013

  2. Overview of Objectives/Concerns • We have been focusing on the spiraling cost of Health care • Find ways to help control costs • Reviewed other successful models of merged plans • Prepare for the implementation Affordable Care Act • Meeting with Health Fund professionals • Members of Congress • At every level we needed to be proactive • Consolidate into Regional Health Plans

  3. We Must Remain Competitive • Developed a presentation for Sheet Metal Councils across the country • The rising cost of health benefits over the last decade • The average yearly cost per family • Projected trends make current practices unsustainable • Rising cost of health care impacts contract negotiations • No longer afford these trends and be competitive • We need control to maintain and expand our market • Construction hours/contributions continue to be down

  4. Advantages of Flagship Funds • Increase purchasing power and negotiate more favorable terms • Improved our prescription drug contract with additional savings • Consolidate and reduce cost by eliminating redundant services (e.g., number of fund professionals) • Ability to research and implement various cost-cutting measures, then verify the efficiency • 17% of participants consume 85% of the expenditures • Ensure chronic patients have appropriate doctors

  5. Advantages (Cont’d) • Large funds can spread out risk for large catastrophic claims • ACA remove plan limits • Better able to compete in the marketplace established by the Affordable Care Act • We will use a best practices approach and draw on our collective knowledge • Have labor/management secure job opportunities • Trends continue to be high without relief

  6. What Has Happened • 8 Health Care Region’s, Merger Exploration Committee • Sample documents and merger agreements have been drafted • Monetary contribution for feasibility studies and due-diligence has been established • Meetings with large national insurers on regional or national model • Developed a road map for locals and regions • Expanded our Medigap plan and offer a new alternative Medicare Advantage Prescription Drug “MAPD” • Assisting Local’s with EGWP – Employer Group Waiver Plan • Next HRA’s

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