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City of Covington Employee Health Benefits November 16, 2010

City of Covington Employee Health Benefits November 16, 2010. City of Covington Health Care Plan Cost Summary. Projected. # Enrolled (avg.). 390. 386. 374. 380. 380. 369. 369. Total Cost. $4,522,723. $4,510,315. $4,754,159. $4,896,323. $5,522,107. $7,417,129. $6,962,109.

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City of Covington Employee Health Benefits November 16, 2010

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  1. City of Covington Employee Health Benefits November 16, 2010

  2. City of CovingtonHealth Care Plan Cost Summary Projected # Enrolled (avg.) 390 386 374 380 380 369 369 Total Cost $4,522,723 $4,510,315 $4,754,159 $4,896,323 $5,522,107 $7,417,129 $6,962,109 • Unit cost projection for 2010/2011 (red) based on 4 months of data with 14% medical trend. • Unit cost projection for 2010/2011 (yellow) based on 4 months of data with 14% medical • trend less claims above 50% of specific deductible.

  3. Kentucky Government Benefits Survey (2010) Annual Unit Cost Comparison to City of Covington (2009/2010*) * Last complete plan year; KY Govt. Ben. Survey unit costs based on participants’ last complete plan years.

  4. Kentucky Government Benefits Survey (2010) Monthly Total Premium Comparison to City of Covington (2009/2010) • Two-tier premium equivalents used to illustrate what the • City’s premiums would equate to on a fully-insured basis

  5. Kentucky Government Benefits Survey (2010) *Out-of-pocket maximum includes deductible

  6. Kentucky Government Benefits Survey (2010) Monthly Employee Premium Comparison to City of Covington

  7. Kentucky Government Benefits Survey (2010) Governments A-E include the following: Cities of Florence and Newport, Kenton County Fiscal Court, Boone County Fiscal Court, and Sanitation District No. 1 *Out-of-pocket maximum includes deductible **Govt. D has two plans, but the second plan only has two enrollees so was not included in this summary

  8. Benchmark: Employee Claims greater than 62% and Spousal Claims less than 26%

  9. Questions? Mark Morgan SHERRILL MORGAN mark@sherrillmorgan.com

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