Audio Transcript Auto-generated
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Welcome to our 2021 Medical Plan Recap.
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This video will bring you through our 2021, playing your performance.
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Then we'll look ahead to strategies that we can use to beat the healthcare industry.
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Finally, we'll announce our 2021 engagement contest winners
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To get started. Let's look at our 2021 plan year performance
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each year we set rates for our medical plan premiums which serve as a
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forecast for what we expect claims and payments to be for the calendar year.
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Our 2021 actual planned funding level came in at $6,000,000,.
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Our actual expenses came in slightly lower than
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that for a 99.50 plan performance level.
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While our forecasting was spot on,
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our goal is to come in under our forecasting so that we can return a portion
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of planned savings back to employees and maintain
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planned structures and premiums for future years.
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We want to do this without having to pass along
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further increases to employees or for the plan in general.
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We then go to our refunded contribution.
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In 2021,
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we introduced our refunded contribution which returns a portion of
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planned savings to eligible employees based on planned performance.
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Since our plan performance level ended at 99.50% for the plan year.
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We will not be able to give a refund a contribution to employees this year.
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In order for this contribution to be made in
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2023 based on 2020 to plan your performance.
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We need to save at least 5% of our forecasted funds for the plan year.
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Looking ahead as we continue the 2022 plan year.
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There are some key strategies that we need to strongly focus on to achieve our goals.
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Our 2022 goals is to be able to achieve a refund a contribution in 2023
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maintain plan premiums
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and maintain planned structure.
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This means that we can keep deductibles and out of pocket maximums.
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The same next year
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strategies to help us get to our goals include the right health care setting,
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utilize Teladoc or your primary care physician instead of the
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urgent care or emergency room for non emergent needs.
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We also encourage you to make and take the call,
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continue to engage with Prairie States and Scout
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Rx for your healthcare and prescription drug needs
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and utilize high value providers.
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This can earn you an incentive and you can receive higher quality care.
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Remember, make and take the call.
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We also encourage you to utilize Scout our Brexit
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strategies specifically when it comes to specialty medications.
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If you have a specialty medication,
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make sure you are utilizing the strategies through
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Scout Rx that can help you receive your
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medications for a far lower price and cost
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compared to the rising prescription drug costs in America
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for any prescription needs.
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Make sure you are connecting with Scout Rx at the number below or
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on the screen for any emergent needs and email them for general questions.
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Remember to make and take the call with Scout Rx as well as Prairie States.
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Other options for prescription medications include using the 90 day fill
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option at the pharmacy or through Mail Service for greater savings
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and researching which pharmacies offer the lowest price per fill.
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The healthcare industry can be tough, but we can beat it.
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There are many impacts that are out of our control,
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but we can use certain strategies to help control some of the costs.
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Let's look at Covid impacts on your care.
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Covid may have made a lack of available care for you and your family.
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So we encourage you to not delay preventative care and
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to maintain a strong relationship with your primary care.
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Physician
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preventative care can help catch concerns early and
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avoid costs for you and the plan.
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Long term.
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We also encourage you to utilize Teladoc or telemedicine when possible.
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This allows you to avoid the busy hospital settings
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and receive care from the comfort of your home.
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Also be smart about covid tests that you
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purchase that are covered through the medical plan.
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We want to buy these in a smart way to avoid major plan impacts.
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We also have our high value provider program.
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High value providers may be able to see you sooner than your local hospital can,
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especially with hospitals potentially being busier than normal
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cash incentives are then available for you to use on whatever
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you would like to just for using that high value provider.
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We have high value provider location sheets available in red zone
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and you can call Prairie States and be connected with their partner really.
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Theus to learn about the high value provider and cash incentive program,
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Savings for the plan in 2021 were over $185,000.
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Savings for the plan were great this year for high value providers,
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However, there was $185,000 in MS.
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Savings from 55 members not seeking care at
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a high value provider when they could have
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This alone could have lowered our planned performance level by over 2%.
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Then we have the rising prescription drug costs.
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Again, talk about the specialty medication strategies.
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Look for the lowest cost at different pharmacies in your area
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and compare drug costs with good Rx and costs plugged
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plus drug companies,
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some of these are not covered under insurance,
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but they could save you money out of pocket for
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medications depending on the plan that you are enrolled in.