Present – Michael Abraham, Prince Charles Alexander, Dennis Cecere, Peggy Codding, Beth Denisch, Marti Epstein, Danny Harrington, Jonathan Holland, Teodros Kiros, Jeff Perry, Wendy Rolfe, Jackson Schultz, Jeri Sykes, and Will Silvio.
Management – Jay Kennedy, Bill Whitney, Kari Juusela, Darla Hanley, Jeanine Cowan, Phil Lima, Chris Connors, Camille Colatosti, Carin Nuerenberg, Nikki Kirk.
- Jay opened the meeting.
- New PPO Plan for open enrollment, Phil Lima and Chris Connors. Review new option for medical offerings. Open enrollment is Oct. 14-November 3, this is the only time to make changes to medical/dental, etc. effective next calendar year. High Deductable Health Plan-PPO is a new option, a variation on the PPO. Same as PPO except there is a deductable, first $1500 for individual and $3000 for double. Overall, about 15% less than current PPO. This comes with a Health Savings Account – not flexible spending – to prepare for the deductible. This is not a “use it or lose it” account – once you put the money there it stays there. Money goes in pre-tax, any money pulled out is not taxed, and any interest earned is not taxed.
Why is Berklee offering it – we want to offer the HSA, for the triple tax benefit, and it has to be attached to the HDHP-PPO. This is designed to offer the freedom of the PPO with the HSA, and a second choice for the out of state faculty. Obamacare brings in the “Cadillac” tax in 2016, if the cost of your plan is too high you have to pay a tax. Right now, Berklee is looking at a $200k tax bill based on the current figures.
Any thoughts on communication? A video link may be an option.
The HSA will be housed with a provider, like Transamerica, etc.
Medical inflation is about 5.5% … our premiums will be going up for all plans.
- Bill Whitney – 150 Mass Ave. renovation, 1st phase, new elevator and lobby, next phase, Old Caf, 3rd phase – dorm entry in 150 with extended entryway to engage the dorm elevator. Phase 2 will begin in Spring of 2015.
- Focus on Sexual Assault and Title Nine work has been very busy, hired two consultants to work with us regarding the climate here