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The Kentucky Association of Counties Insurance Agency, Inc. held a Board of Directors' meeting immediately following the KACo Board of Directors' meeting on Thursday, December 19, 2019 at 400 Englewood Drive in Frankfort, Kentucky.
The roll was called. The following Directors were present: Chairman Gary Moore, Boone Co. Judge/Executive; Reagan Taylor, Madison Co. Judge/Executive; Stevie Givens, Butler Co. Magistrate; Todd Ruckel, Lewis Co. Judge/Executive; Alex Barnett, Harrison Co. Judge/Executive; Gary Gardner, Hart Co. Magistrate; and Jim Henderson, KACo Executive Director/CEO.
Others present were: Temple Juett, Director of Insurance; Karen Basham, Chief Financial Officer; Kelly Harding, Peel & Holland/KACo Benefits Group; Tim Sturgill, General Counsel; Marie Skinner, Accountant/UI Manager; Bruce Lawson, Senior Accountant; and Sonya Chesser, Executive Secretary.
Chairman Moore called the meeting to order at 2:23 p.m.
Motion made by Stevie Givens, seconded by Todd Ruckel, to approve the minutes of the September 26, 2019 meeting as presented. Motion carried.
Ms. Basham presented and discussed the income statement for period July 1, 2019 through November 30, 2019; balance sheet as of November 30, 2019; and FY 2019/20 PAF budget for period July 1, 2019 - November 30, 2019.
Motion made by Todd Ruckel, seconded by Stevie Givens, to accept the financial reports as presented. Motion carried.
Ms. Skinner, presented and discussed the total number of bonds and premium, by month, for FY 2019/20 as compared to FY 2018/19 as December 17, 2019.
Mr. Harding, giving an update on health insurance, provided a summary of the KACo Benefits Program, which includes 61 fiscal courts, 70 libraries and 63 political subdivisions totaling 194 members for a total annualized premium of $40,410,121 covering 5,421 lives. His report also included a five year review of the Agency's financial performance and the current rolling twelve month commissions, which have increased by 34.3% over last year. He said from December 2017 to December 2019, the Association plan grew 42% in employee lives and 69% in total insured lives. He said the program brought in fourteen new accounts this year totaling approximately $8.8 million in premium. Mr. Harding provided information concerning the loss ratios.
Mr. Harding presented Teladoc's HealthiestYou telehealth utilization report as of November 2019 and highlighted the value of participating in this program.
Mr. Harding provide each board member with a brochure about the KACo Benefits Group program.
Mr. Henderson said the Agency had previously made annual payments in the amount of $45,000 each to the Kentucky County Judge/Executive Association and the Kentucky Magistrates & Commissioners Association in amounts proportionate to their assistance in marketing the health insurance program. He recommended changing that model by having the board to annually review the performance of the program and make a recommendation as to the amount to contribute to each Association. Mr. Henderson recommended making a contribution of $50,000 each to the Kentucky County Judge/Executive Association and the Kentucky Magistrates & Commissioners Association in quarterly installments for 2020.
Motion made by Alex Barnett, seconded by Stevie Givens, for the Agency to contribute $50,000 each to the Kentucky County Judge/Executive Association and the Kentucky Magistrates & Commissioners Association in quarterly installments for 2020. Motion carried.
Chairman Moore requested approval of the following meeting schedule for 2020: March 25, June 25, September 24 and December 17. All meetings will be held at the KACo offices upon adjournment of the KACo Board of Director's meeting.
Motion made by Todd Ruckel, seconded by Chairman Moore, to adopt the 2020 meeting schedule as presented. Motion carried.
Motion made by Stevie Givens, seconded by Todd Ruckel, to adjourn the meeting at 2:50 p.m. Motion carried.
