
Changes proposed for 2020 retiree health care based on member
feedback
The OP&F Board of Trustees announced several changes that
will be discussed for the retiree health care plan in 2020. The proposed changes
are based on the experience of transitioning retirees from the previous
self-insured group plan that ended on Dec. 31, 2018 and feedback from members.
At this time, these are only proposals that will be discussed.
Proposals
for the 2020 plan year include:
- Reviewing the feasibility of allowing
pre-Medicare members to shop and enroll in health care plans outside the
exchange managed by Aon Retiree Health Solutions. Retirees may be required to
sign a waiver claiming responsibility for the choices they make;
- Potentially
allowing the health care stipend to be used for member COBRA payments following
retirement (primarily for those who are applying for a disability benefit).
OP&F will work with its partners and affiliate groups on other health
care-related efforts throughout 2019:
- OP&F and Aon will continue to work on
expanding PPO markets with carriers;
- Lobbying efforts will continue with the
FOP and IAFF for Medicare at 55 for public safety personnel;
- OP&F trustees
who represent firefighters will work with the IAFF on potential new solutions
not presently in the health care market.
Aon to open Columbus office
dedicated to OP&F retirees
It was announced during the Feb. 27 OP&F Board of
Trustee meetings that Aon Retiree Health Solutions will be opening an office in
Columbus to service OP&F retirees. The office is expected to be located in the
same building as OP&F headquarters at 140 East Town Street. Aon hopes to have
6-8 full time associates in its Columbus office that will assist OP&F retirees
with their health care insurance questions and enrollments. The Columbus office
is expected to be open in 2019.
PORTFOLIO UPDATE
OP&F’s investment
portfolio value:
Current value (2/25/19): $15.5 billion
End of January
value: $15.3 billion
End of December value: $14.6 billion
Board of
Trustees Committee Notes
(Motions voted on by the Board are listed
separately)
- GOVERNMENT AFFAIRS AND POLICY: The Committee heard updates on
state legislative matters from OP&F’s legislative consultant and a federal
legislative report from staff.
- INVESTMENT: In addition to the monthly
portfolio performance update, the Board received the Investment Performance
Report for the periods ending Dec. 31, 2018.
- FINANCE: The 4th Quarter
Budget-to-Actual Report for 2018 was provided to the Committee for discussion
along with the Status of Past Due Employers Report.
- HEALTH CARE:
Representatives from Aon provided an update on the 2019 Health Care Transition
and answered questions from trustees. The 2018 year-end report of the Health
Care Stabilization Fund was also presented to the Board. The Committee Chair,
William Deighton (Cleveland Fire, retired) announced proposed changes for the
2020 retiree health care plan that the Board will consider.
Motions:
At its February 2019 meeting, the OP&F Board of Trustees approved the following
motions:
- Approved the investment manager rating recommendations for Causeway,
PGIM Levered Core and Loomis Sayles Levered Core. Motion passed by unanimous
vote (Investment Committee).
- Approved staff’s and Wilshire’s recommendation
to increase from 0.5 percent to 3.0 percent the allowed upper band for OP&F’s
Cash allocation. Motion passed by unanimous vote (Investment Committee).
- Approved staff’s recommended revisions to the Proxy Voting Policy. Motion passed
by unanimous vote (Investment Committee).
- Approved the Committee
recommendations for the initial determination of disability for the members as
identified in the initial determination hearings list presented to the Board on
Feb. 27, 2019. Motion passed by unanimous vote with the exception of one
abstention on the vote for member #2 (Disability Committee).
- Approved the
Committee recommendations for appeal hearings for the members identified in the
appeals list presented to the Board on Feb. 27, 2019. Motion passed by unanimous
vote (Disability Committee).
- Approved the Committee recommendation for Death
Fund benefits for the members identified. Motion passed by unanimous vote
(Disability Committee).
- Approved the Committee recommendation to waive
mandatory medical evaluation and filing of annual earnings statements for future
years for the members identified in the disability reporting waivers list
presented to the Board on Feb. 27, 2019. Motion passed by unanimous vote
(Disability Committee).
NEXT BOARD OF TRUSTEES MEETINGS: March 19-20,
2019
Posted 3/8/2019