Public Hearing: YES ☐ NO ☒ Department: Finance - Risk Management
SUBJECT:
Title
Commission District(s): All Commission Districts
2020 Medicare Retiree Health Plan
Body
Information Contact: Larry Jacobs, Assistant Director of Finance/Risk Management
Phone Number: 404-371-2050
PURPOSE:
Approve Medicare Rates
NEED/IMPACT:
Medicare plan year expires on December 31, 2019. To ensure the County is offering an affordable and valuable health plan for retirees, while preserving the impact of the 2% pension COLA.
The proposed Medicare insurance premiums are estimated to increase by $742,360. The Finance Department recommends absorbing this increase and approving the 2020 Medicare rates as outlined below. This is consistent with the Pre-65 retiree strategy in which the county absorbed a $500,000 increase.
FISCAL IMPACT:
$7,742,360.00
RECOMMENDATION:
Recommended Action
Approve Aetna’s proposed 2020 Medicare rate of $255.30 per member per month after plan changes compared with the current rate of $214.62. 2. Approve Kaiser Permanente’s proposed 2020 Medicare rate of $240.01 which is unchanged from the current rate. 3. Approve United Concordia’s 2020 Dental rates with NO increase.