December 06, 2024 FRIC Meeting Minutes will be approved in the February 7, 2025 meeting. 

DRAFT FRIC MEETING MINUTES

November 1, 2024

Zoom Meeting

1130 AM

Members present: Julie Urmie*, John Laverty*, Mary Charlton, George Hospodarsky, Dan Katz, Cormac O’Sullivan, Angela Speers, Anand Vijh, Matt Watson⁺, Michael Weaver, Chuck Wieland

*Co-chairs; ⁺Minutes

Members absent: Richard Peter, Josey Bathke, Anya Prince

Administrative staff present: Joni Troester, Rebecca Olson

Visitors present: Cheri Smith, Dana Stafford, Jessica Wade, Cheryl Reardon, Erin Litton, Megan Threlkeld, Audra Haddy, Melissa Twait, Kate Klefstad, Justin Fraase, John Reitz, James Jorris, Kara Wright

1. Introductions/Roll Call– Urmie and Laverty

• The meeting started with a roll call at 11:30 am.  

2. Approval of October meeting minutes – Urmie and Laverty

• Chuck Weiland motioned to approve the October 2024 minutes; Mike Weaver seconded. October 2024 minutes edits were made and were unanimously approved as amended for small punctuation changes.

3. GLP1 Pilot Update – Troester
   • New updates
     1. Communications released throughout October ahead of planned implementation
        1. Dedicated web page 
        2. Application period open 10/31 – 11/8; Lottery selection process for 500 week of 11/11
     2. Discussion on data analysis on pilot study 
     3. Discussion on application and selection process 
     4. Pilot to continue as standing agenda item 
        1. Members can reach out to Joni Troester with any questions or refer to the web page 
4. PBM contract update – Olson
   • Prudent Rx opportunity - Purchasing wrapping up final review of draft agreement, expecting update on this next week. We’re exploring: 
     1. Specialty Drug Program called PudentRX Solution
     2. Can lower drug cost for members on our plan
     3. Estimated savings of ~ $4 Million dollars 
     4. Helps members obtain non-needs based co-pay assistance for their specialty drugs
        1. If drug is on PrudentRx list, member pays $0
        2. Members only pays when the drug is not on PrudentRx list
     5. Prudent RX enrolls members 
     6. As we learn more about the program, we’ll share additional details in upcoming FRIC meeting 
5. Retirement Fund Investment Committee Update - Troester
   • RFIC Discussion 
     1. Working with new investment management consultant CAPTRUST 
     2. Modernization of fund line-up
        1. Exploring fund line opportunities for improvement in mandatory 403(b), voluntary 403(b), and 457(b) plans
           1. Goals
              1. Goals to reduce fund choice overload and align with industry best practice
              2. Leverage institutional size to obtain quality funds at lower participant fees
              3. Expand choice for interested participants through a brokerage window
     3. New custom target date fund solution
        1. Lower net cost
        2. Includes equity, fixed income, guaranteed income (Portable TIAA traditional product)
        3. CAPTRUST as 338 fiduciary of the new custom glidepath with target date fund
     4. If we pursue this, changes will most likely occur fall 2025 with 
     5. Plan to have communications to employees along with public facing landing page with information on changes 
6. Voluntary Benefit RFQL (Request for Qualifications) – Olson
   • Project with purchasing – currently 
   • Post RFQL for voluntary benefits – Q4 2024
   • Review bids from different vendors – Q1 2025
   • Interview top bidders – Q1-Q2 2025 
   • Recommend vendors – Q2 2025
   • Implement new voluntary benefits – Q3 2025
7. Access and Capacity – Troester
   • Follow-up from October meeting (more detail on secondary access)
     1. September 2024 access data reviewed
     2. Continue to work with PAC on facilitated access for UI Family 
     3. Reviewed 6 specialty care access areas with rates lower than target access rate for September 
     4. Recruitment of faculty ongoing to help improve access 
     5. Discussion regarding need for additional information on services/areas of care available at the different health care locations 
8. New Business – Dan Katz
   • Request for additional information and update on Wellmark’s requirement that PCPs be assigned to plan members 
     1. Plan members being assigned to providers and scheduling limitations/concerns
     2. Concerns with accuracy on data regarding primary care providers assigned to patients or if it’s being updated 
9. November Board of Regents meeting – phased retirement pilot program
   • Current 3 year phased retirement pilot program ends 2025 
   • Requesting extension on pilot 

There was a motion from Chuck Weiland to adjourn the current meeting seconded by Cormack O’Sullivan , and it passed unanimously. 

The meeting adjourned around 12:27 PM. 

Next Meeting

December 6, 2024, from 11:30 a.m. – 1:00 p.m. via Zoom

DRAFT FRIC MEETING MINUTES
October 4, 2024

Zoom Meeting

1130 AM

Members present: Julie Urmie*, John Laverty*, Mary Charlton, George Hospodarsky, Dan Katz, Cormac O’Sullivan, Richard Peter, Angela Speers⁺, Anand Vijh, Matt Watson, Michael Weaver, and Anya Prince

*Co-chairs; ⁺Minutes

Members absent: Josey Bathke and Chuck Wieland

Administrative staff present: Joni Troester, Rebecca Olson

Visitors present: Cheri Smith, Dana Stafford, Julie Sexton, Jessica Wade, Cheryl Reardon, Erin Litton, Megan Threlkeld, Audra Haddy, Melissa Twait, Justin Fraase, Brit Marcussen, John Reitz

1. Introductions/Roll Call– Urmie and Laverty

• The meeting started with a roll call at 11:30 am. 

2. Approval of September meeting minutes – Urmie and Laverty

• Cormac O’Sullivan motioned to approve the September 2024 minutes; Anand Vijh seconded. September 2024 minutes were unanimously approved.

3. GLP1 Pilot Update- Troester

• New Updates: We have identified providers who agreed to participate in a special pilot program network. We will work with specialty pharmacy to allow flexibility and ability to mail GLP-1 to patient’s home. Working with UHR Communications for mass rollout. There will be an awareness email and a second email following a few days later with info on how to sign-up. Message will run in the Noon News. PAC team will take care of .pilot program patient scheduling. There will be an attestation from the provider to receive an approval for GLP-1 pharmacy exception. WondrHealth, behavior modification, will begin before first visit with provider. Participant feedback will be asked during the pilot. There will be a waitlist of 50-70 people, as we’re expecting some employees may not qualify once they meet with the provider or drop-out of the program in the first few months. Communication will be sent out when the limit has been reached. 
• Behavior Modification Vendor - WondrHealth: Vended product subcontracted through Wellmark. We have offered to a certain population with chronic conditions for 4 years. Different areas of focus, tailored solutions, digital platform, evidence-based behavior change and known entity to UI. We have tracked the completion rate and to date it was about 65% completion rate of those that used it.
• We will send you a courtesy email of our planned communication before it is sent to all employees. Please do not share.
• Joni and Rebecca notified yesterday that Wellmark will be covering Wegovy effective immediately for certain patients who have a BMI of 27 or greater and have specific cardiovascular disease indications. 

4. Open Enrollment Preview – Olson

• Dates: Nov 1^st to Nov 15^th. New insurance rates and RXOPM plan changes for 2025. Health Care FSA increase.
• Planned Communication: Email will be sent on Oct 9^th. Second email will be sent on Nov 1^st (first day of open enrollment). There will be open enrollment resources online, videos, and materials (guide and plan comparison). Communication offered in English, Spanish, and French.

5. Secure Act 2.0 - Olson

• Changes: Voluntary retirement participants age 60 to 63 are eligible to participate in new age 60-63 catch-up to $10k a year (extra $2500 in addition to the current Age 50 Catch-up provision of $7500). 
  • Planned communication: Targeted email communication to those VRSP and 457(b) participants who will be age 60-63 in 2025. University Benefits webpage to be updated.

6. Access and Capacity – Troester

• Follow-up from September meeting: Ongoing conversations with access partner, but while there are access issues they are trending in the right direction. Due to MCD getting EPIC on May 4^th, 2024, they are not yet included in this data being presented. Continuously being monitored, and there is recruitment happing on the faculty end as well.

7. Participant Engagement with TIAA - Olson

• Last year over 2800 people took advantage of using a TIAA financial consultant. Year to date there have been over 2300. Many of our participants access the participant portal. We have approximately 42,000 (active and terminated/retired participants) in TIAA. About 17,000 active emplolyees contribute to TIAA on a monthly basis.

8. There was a motion from Richard Peter to adjourn the current meeting seconded by Cormac O’Sullivan, and it passed unanimously. The meeting adjourned around 12:50pm. 

    

Next Meeting

November 1st, 2024, from 11:30 a.m. – 1:00 p.m. via Zoom

DRAFT FRIC MEETING MINUTES
September 6, 2024

Zoom Meeting

1130 AM

Members present: Julie Urmie*, John Laverty*, Josey Bathke, Mary Charlton, George Hospodarsky, Dan Katz, Cormac O’Sullivan, Richard Peter, Angela Speers, Anand Vijh, Matt Watson, Michael Weaver, Anya Prince, Chuck Wieland⁺

*Co-chairs; ⁺Minutes

Members absent: none

Administrative staff present: Joni Troester, Rebecca Olson

Visitors present: Cheri Smith, Dana Stafford, Julie Sexton, Jessica Wade, Kara Wright, Cheryl Reardon, Erin Litton, Megan Threlkeld, Audra Haddy, Melissa Twait, Justin Frase, Bryan Garter, Amy O’Deen, Brandon Johnson, James Joris

1. Introductions/Roll Call– Urmie and Laverty

• The meeting started with a roll call at 11:30 am. 

2. Approval of August meeting minutes – Urmie and Laverty

• Chuck Wieland motioned to approve the August 2024 minutes; Cormac O’Sullivan seconded. August 2024 minutes were unanimously approved.

3. Iowa Health Care: North Liberty – Presentation and QA

Health Care Representatives – Amy O’Deen, Bryan Garter, Brandon Johnson

• Bryan Garter presented an overview of the University of Iowa Health Care North Liberty location.
• Opening date is tentatively set at end of April 2025.
• Will have two separate blocks:
  • Clinical (Orthopedics) Block
  • Hospital Block
• Structure was built with the ability to expand as needed in the future.
• Will allow growth of other departments within the UI Health Care – Iowa City once Orthopedics moves to North Liberty.
• Q&A between FRIC members and presenters to answer specific questions the various members had. 

4. PBM Update – Olson

• Wellmark was selected the top bidder.
• Draft agreement completed by UI Purchasing and Wellmark during the summer.
• Iowa Department of Insurance currently reviewing draft.
• Purchasing Office issuance and notice of award contingent upon execution of the final agreement which is expected sometime in late October 2024.
• Q&A between FRIC members and Rebecca Olson/Joni Troester to answer specific questions the various members had. 

5. GLP1 Pilot Update – Troester

• Update on the GLP1 pilot program.
  • Reviewed the primary goal and the guiding principles of the pilot program.
  • Presented information on the eligibility requirements and the selected UI Health Care providers of the pilot program:
    • Enrollment capped at 500 for the pilot. 
    • Eligibility for the pilot program limited to UI employees covered by UI Choice or UI Select and: 
      • 40 BMI or greater
      • 35 BMI or greater and 2 co-morbidities
  • Behavior Modification will be important aspect of the pilot.
  • GLP-1 coverage will be by “exception only” for those approved to participate in pilot.
  • Pilot program participant will be responsible for co-insurance and costs up to their health plan annual OPM.
  • Communication plan and timing reviewed.
  • Q&A between FRIC members and Joni Troester/Rebecca Olson to answer specific questions the various members had. 

6. Retirement Fund Investment Committee Updates – Troester

• Committee made up of key individuals from University Human Resources, Central Administration, FRIC Member (John Laverty) and College of Business faculty emeritus (Cathy Zaharis).
• TIAA Strategic partnership with Accenture (announced 8/27) provides: 
  • Modernization (systems and operations).
  • No impact to call center and recordkeeping services.
• With new investment management consultant, CAPTRUST, exploring fund line up for opportunities for improvement in the mandatory 403(b), voluntary 403(b) and 457 (b) plans:
  • Modify current fund line-up
  • Customized target date fund (used as the default fund)
• Q&A between FRIC members and Joni Troester, John Laverty and Rebecca Olson to answer specific questions the various members had. 

7. Access and Capacity – Troester

• Reviewed the July 2024 facility access data.
  • No real change from spring 2024.
• Q&A between FRIC members and Joni Troester/Rebecca Olson to answer specific questions the various members had. 

8. There was a motion to adjourn the current meeting, and it passed unanimously. The meeting adjourned around 12:50pm. 

Next Meeting

October 4, 2024, from 11:30 a.m. – 1:00 p.m. via Zoom

DRAFT FRIC Meeting Minutes
August 9, 2024, 11:30 am
Zoom Meeting

Members present: Julie Urmie*, John Laverty*, Josey Bathke, Mary Charlton, Dan Katz, Cormac O’Sullivan, Richard Peter, Angela Speers, Anand Vijh ⁺, Matt Watson, Michael Weaver, Anya Prince, Chuck Wieland

*Co-chairs; ⁺Minutes

Members absent: George Hospodarsky

Administrative staff present: Joni Troester, Rebecca Olson

Visitors present: Cheri Smith, Jessica Wade, Kara Wright, Cheryl Reardon, Erin Litton

1. Introductions: The meeting started with a roll call at 11:30 am. The attendees are noted above. The committee welcomed a new member Matt Watson, who comes from Health Care Information Systems. He brings valuable experience and enthusiasm to the committee.
2. Approval of May meeting minutes: Chuck Wieland motioned to approve the minutes, Mike Weaver seconded. May minutes were unanimously approved.
3. Retiree Health Insurance Update (Informational Only): Joni Troester presented details of university’s retiree health plan. This plan covers approximately 1,700 members. For Calendar Year (CY) 2025, their insurance premiums will not increase from the current rates which are $1,018 per month under UIChoice plan and $916 per month under UISelect plan, both per covered person rates. The $288 monthly subsidy for eligible retirees will continue again for 2025. 
4. 2025 Dental Rate Discussion: The administrators next presented details of the dental insurance plan. For CY 2025, there will be a 4% increase in premium rates across the board. This comes after a five-year period of no increase during 2018 to 2022 and a two-year period of 3% annual increases during 2023 to 2024. Chuck Wieland motioned to approve the new rates for 2025, Richard Peter seconded. Dental rate increase passed unanimously.
5. 2025 Health Rate Discussion: The last item discussed was the CY 2025 premiums for employee healthcare plans. The current arrangement is that we have two plans: UIChoice and UISelect.  Under each plan, there are five family status categories: employee only, employee and spouse, employee and children, employee and family, and dual-employee family (i.e., both spouses are university employees). For CY 2025, the administrators proposed a 5% increase in premiums for all employee categories under UI Choice and a 1.2% increase for all categories under UI Select. The largest monthly increase in employee premium is $22 for UIChoice family coverage. Discussion involved rating tiers by family coverage. Committee will continue discussion next spring during plan design discussions. Chuck Wieland motioned to approve the proposed health rates and Cormac O’Sullivan seconded. The proposed health rate increases passed unanimously. The next steps will be approval by various university administrators ending with the Board of Regents meeting on September 18-19, 2024.
6. There was a motion to adjourn the current meeting, and it passed unanimously. The meeting adjourned around 12:10 pm.

Recorder: Anand Vijh