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NEW MEXICO PUBLIC SCHOOLS INSURANCE AUTHORITY

This overview provides information on the NMPSIA Benefits Program, including expected claims, bid results, premium increases, enhanced plan benefits, and updates from The Standard.

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NEW MEXICO PUBLIC SCHOOLS INSURANCE AUTHORITY

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  1. NEW MEXICO PUBLIC SCHOOLS INSURANCE AUTHORITY Benefits Program April 2008

  2. COVERED EMPLOYEES

  3. OVERVIEW • $276 Million Expected Claims • Claim reserves are fully funded • Excess Cash Balance

  4. BIG BID RESULTS Joint Purchasing under the Consolidated Purchasing Act NMPSIA, NMRHCA, State of New Mexico, APS Quotes for Medical, Health Management, Dental, and Vision

  5. BIG BID RESULTS Collectively, nearly 200,000 members Bid Analysis by staff, procurement manager and each agency’s consultants Self-Insured administrative service Only (ASO) fees and insured quotes

  6. MEDICAL Finalists: BCBS, Lovelace, Presbyterian, Cigna, United HealthCare, Award: BCBS, Presbyterian

  7. DENTAL Finalists: Delta Dental NM United Concordia Award: United Concordia

  8. VISION Finalists: Davis Vision, Spectera, Vision Service Plan Award: Davis Vision

  9. PREMIUM INCREASES 10/08 Blue Cross Medical: +5.5% Presbyterian Medical: +9.9% UCCI Dental: +9.9% Davis Vision: No Change The Standard Life: No Change The Standard LTD: No Change

  10. APPLES + ORANGES • 2% of Salary is greater than 9.9% of insurance • 3% of Salary is greater than 9.9% of insurance • 9.9% increase on employee’s portion for single dental is $.90 per month

  11. APPLES + ORANGES SALARY INCREASE INSURANCE INCREASE • 3% ANNUAL INCREASE ON $13,000 = $390 • 2% ANNUAL INCREASE ON $42,000 = $900 • INSURANCE INCREASE = $72 . . . $281 • INSURANCE INCREASE = $ 115 . . . $449

  12. MEDICAL REVENUE VS. MEDICAL/RX CLAIMS(in millions)

  13. AVERAGE MEDICAL INCREASE

  14. BENEFITS FUND BALANCE (in millions)

  15. USE OF FUND BALANCE • Reduced 2006 increase from 11.5% to 8.75% • Postponed 2007 7.4% from October 2007 to February 2008 • Enhanced plan benefits

  16. ENHANCED PLAN BENEFITS • PCP Copay $15 • Physical Therapy Copay $20 • Orthodontia maximum to $1,500 • Improved dental plan periodontal benefit • $2/$5 Generic drug Copay • $0 Copay for formulary diabetic supplies, insulin, and oral medications

  17. BCBS HIGH OPTION

  18. BCBS EMPLOYEE IMPACT

  19. PRESBYTERIAN HIGH OPTION

  20. PRESBYTERIAN EMPLOYEE IMPACT

  21. UNITED CONCORDIA (UCCI) DENTAL

  22. UCCI EMPLOYEE IMPACT

  23. UPDATE FROM THE STANDARD • FICA, 941, and W-2 reporting done by The Standard • Basic Life Accelerated Benefit can equal 100% (25% specified disease + 75% terminal illness) • Survey on Section 125 and each school’s policy on when coverage terminates

  24. IN CLOSING . . . • Thanks! • Questions? • Comments?

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