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WEDNESDAY, FEBRUARY 11 5:30 PM 111 FORUM BUILDING SPONSORED BY GPSA HEALTH INSURANCE COMMITTEE CO-CHAIRS: ALISON FRANKLIN NATHANIEL PORTER Special Health.

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Presentation on theme: "WEDNESDAY, FEBRUARY 11 5:30 PM 111 FORUM BUILDING SPONSORED BY GPSA HEALTH INSURANCE COMMITTEE CO-CHAIRS: ALISON FRANKLIN NATHANIEL PORTER Special Health."— Presentation transcript:

1 WEDNESDAY, FEBRUARY 11 5:30 PM 111 FORUM BUILDING SPONSORED BY GPSA HEALTH INSURANCE COMMITTEE CO-CHAIRS: ALISON FRANKLIN NATHANIEL PORTER Special Health Insurance Meeting

2 AGENDA Welcome & Introduction (10 min)  Alison Franklin, Graduate Student Updates – ACA Guidelines & RFP (15 min)  Dennis Shea, Associate Dean – Health & Human Development Policy Decisions – Explanations & Exercise (60 min)  Nathaniel Porter, Graduate Student Closing Remarks (5 min)  Danielle Rhubart, Graduate Student Informal Q&A (25 min)  Committee Co-Chairs and liaisons

3 TIMELINE December – 2014  University allocates money for a consultant to put out a Request for Proposals (RFP) for student health insurance plan 2015-2016 January – 2015  Consultant (Towers Watson) tasked with putting out RFI/RFP  Jan. 15 – GPSA updated about consultant (RFI/RFP)  Jan. 30 – GPSA updated about Premium Parity February – 2015  Mid Feb. – Initial bids in. Student feedback needed for potential insurers to craft proposals. March – 2015  Early March – Proposals reviewed  End of March – Final deadline for final plan decisions, if insurer is not Aetna

4 TIMELINE December – 2014  University allocates money for a consultant to put out a Request for Proposals (RFP) for student health insurance plan 2015-2016 January – 2015  Consultant (Towers Watson) tasked with putting out RFI/RFP  Jan. 15 – GPSA updated about consultant (RFI/RFP)  Jan. 30 – GPSA updated about Premium Parity February – 2015  Mid Feb. – Initial bids in. Student feedback needed for potential insurers to craft proposals March – 2015  Early March – Proposals reviewed  End of March – Final deadline for final plan decisions, if insurer is not Aetna

5 TIMELINE December – 2014  University allocates money for a consultant to put out a Request for Proposals (RFP) for student health insurance plan 2015-2016 January – 2015  Consultant (Towers Watson) tasked with putting out RFI/RFP  Jan. 15 – GPSA updated about consultant (RFI/RFP)  Jan. 30 – GPSA updated about Premium Parity February – 2015  Mid Feb. – Initial bids in. Student feedback needed for potential insurers to craft proposals March – 2015  Early March – Proposals reviewed  End of March – Final deadline for final plan decisions, if insurer is not Aetna

6 TIMELINE December – 2014  University allocates money for a consultant to put out a Request for Proposals (RFP) for student health insurance plan 2015-2016 January – 2015  Consultant (Towers Watson) tasked with putting out RFI/RFP  Jan. 15 – GPSA updated about consultant (RFI/RFP)  Jan. 30 – GPSA updated about Premium Parity February – 2015  Mid Feb. – Initial bids in. Student feedback needed for potential insurers to craft proposals March – 2015  Early March – Proposals reviewed  End of March – Final deadline for final plan decisions, if insurer is not Aetna

7 TIMELINE December – 2014  University allocates money for a consultant to put out a Request for Proposals (RFP) for student health insurance plan 2015-2016 January – 2015  Consultant (Towers Watson) tasked with putting out RFI/RFP  Jan. 15 – GPSA updated about consultant (RFI/RFP)  Jan. 30 – GPSA updated about Premium Parity February – 2015  Mid Feb. – Initial bids in. Student feedback needed for potential insurers to craft proposals March – 2015  Early March – Proposals reviewed  End of March – Final deadline for final plan decisions, if insurer is not Aetna

8 TIMELINE December – 2014  University allocates money for a consultant to put out a Request for Proposals (RFP) for student health insurance plan 2015-2016 January – 2015  Consultant (Towers Watson) tasked with putting out RFI/RFP  Jan. 15 – GPSA updated about consultant (RFI/RFP)  Jan. 30 – GPSA updated about Premium Parity February – 2015  Mid Feb. –Initial bids in. Student feedback needed for potential insurers to craft proposals March – 2015  Early March – Proposals reviewed  End of March – Final deadline for final plan decisions, if insurer is not Aetna

9 TIMELINE December – 2014  University allocates money for a consultant to put out a Request for Proposals (RFP) for student health insurance plan 2015-2016 January – 2015  Consultant (Towers Watson) tasked with putting out RFI/RFP  Jan. 15 – GPSA updated about consultant (RFI/RFP)  Jan. 30 – GPSA updated about Premium Parity February – 2015  Mid Feb. – Initial bids in. Student feedback needed for potential insurers to craft proposals March – 2015  Early March – Proposals reviewed  End of March – Final deadline for final plan decisions, if insurer is not Aetna

10 Explanation of Mandatory Changes ACA Guidelines  Family Rating (Premium Parity)  Individuals within same age bracket cannot have differing premium rates (i.e. students and spouses)  AV Calculator Updates  Now includes prescription drugs for 2015 Request for Proposals (RFP) Process  Consultant (Towers Watson)  RFI/RFP put out for potential insurer bid/proposals  Student input on plan design very important when requesting proposals!  Proposals reviewed and voted on by Student Insurance Advisory Board/Council (SIAB/SIAC)

11 Feedback Format (each of 4 decisions in agenda) Initial explanation of two contrasting options (Nathaniel) Opportunity for brief clarification of options Initial vote- Hands raised high based on information you have for each option Oral arguments- 1 minute comments (strictly timed)  Up to 2 students per position, raise hand to speak  State preference up front then defend your position Final vote – Same as before  Both votes will be recorded and reported to Liaisons

12 Platinum Plan Gold Plan Highest benefits and premiums Current plan Lowest deductible, per- visit costs and O-O-P max Least risk of catastrophic costs Moderately high benefits 5-15% lower premium Deductible and O-O-P maximum tend to be 2- 2.5 times as high Better value to rare users or UHS-only users Decision 1- Metal Tier

13 Copay Coinsurance Set fee (dollar amount) for each type of service Predictable costs per visit Higher average cost for routine visits Do not always have a deductible Higher O-O-P max Set percentage pay for each type of service Current plan Unpredictable costs for complex treatment (ER, etc.) Typically much lower O-O-P max Decision 2: Plan Structure

14 Higher Deductible Higher Coinsurance Higher cost barrier to initial (non-UHS) treatment Only limited flexibility (J-1 visa requires $500 or lower) Higher costs for participants with ongoing or expensive medical needs Decision 3: Balancing Ded./Coins.

15 Higher Deductible Higher Out-of-Pocket Max Deductibles affect higher portion of participants Only limited flexibility (J-1 visa requires $500 or lower) Major impact on those who reach maximum Only affects small number of students Decision 4: Balancing Ded./OOP Max

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