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Final insurance average rate lowered to 15.04 percent
To all OSBA members:
We're pleased to announce the final average health insurance rate we received from Regence BlueCross BlueShield will be 15.04% for the 2007-08 plan year. This rate is 2.8% lower than the preliminary renewal released to OSBA members last month. After reviewing two more months of claims data for April and May 2007 Regence concluded that this new premium level would be sufficient to cover actual costs of the program for the coming year.
District superintendents and business managers will receive rate sheets as soon as
we can prepare them early next week. These show the actual cost of each plan in the OSBA program. This will allow districts to calculate their costs based on how many single, two-party and families they cover with each plan.
By reflecting actual insurance costs, rather than using an artificially low rate that has been bought down, this reduces the possibility that districts will see a huge premium increase or balloon payment after theyve been in the states OEBB plan for a year. It should also be welcome news to employees who are facing increased out-of-pocket expenses for premium sharing.
In the over-all scheme of controlling health-care costs, OSBA still encourages districts to explore higher deductible plans already offered in our program. National experts continue to warn that health insurance costs are projected to double in the next five to seven years. The ability for state and local officials to significantly impact rising costs lies in choosing more affordable plans and a focus on wellness at the district and individual levels. A national solution to the health care crisis is not imminent.
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