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Funded Retirement and Insurance Committee Minutes September 9, 2011, 11:30 am 302 USB Funded Retirement and Insurance Committee (FRIC) Meeting
FRIC meeting notes from 9/9/11
Funded Retirement and Insurance Committee Minutes from September 9, 2011
Meeting was called to order at 11:30 am in 302 USB.
Members in attendance: Steve Bernholtz, Nancy Davin, Katherine Dudley, Jon Garfinkel, Daniel Katz, Sheldon Kurtz, Heather Schnoebelen, Bernard Sorofman, Katherine Tachau, Anand Vijh, Lynn Vining, Michael Wichman
Members absent: Victoria Sharp, Matthew Glasson
Administrative Officers present: Sue Buckley, Richard Saunders
Guests present: Rick Borchard, William Buss, Carla Clark, Dan Fick, Amber Goedken, Suzanne Hilleman, Debra Hughes, Susan Klatt, Christine Miller, Joni Troester
- Committee members, administration representatives and guests introduced themselves.
- Michael Wichman moved and Lynn Vining seconded that the minutes from the May 6, 2011 meeting be approved. The vote was unanimous in favor, with no corrections.
- Potential insurance rates for 2012 were viewed and discussed. Materials are confidential. Katherine Tachau moved and Nancy Davin seconded that the rates be approved. The vote was unanimous in favor.
- Long-term care coverage was discussed. John Hancock (our current provider) requested a rate increase several months ago. The Iowa Insurance Commissioner’s office hasn’t approved it yet. The Federal government is looking into Iowa’s review of health rate increases. The insurance commissioner’s office is responding to the probe and this may be influencing the delay on the long-term care rate increase request.
- Joni Troester presented information on UI’s integrated approach to developing and sustaining a healthy campus culture.
- Dental insurance plans for 2012 were discussed briefly; the same two plans will be offered in January 2012. It was noted that the largest “gap” in costs between Dental I and Dental II, is $7 per month (family status). While this indicates Dental II is more expensive per month, Dental II provides much larger coverage of restorative care and orthodontic care. The committee was asked to think about combining Dental I and II into one plan with the Dental II design features. It was noted that removing Dental I would increase the size of the “pool” of users for Dental II, and this might lower what would have been the gap, from $7.
- Co-chair Kurtz asked if we could get a presentation about the new facility at the Iowa River Landing. UI HC representative Christine Miller will try to have a presentation at a future meeting.
The meeting was adjourned at 1:00 pm
Recorder: Jon A. Garfinkel