ELCA Board of Pensions trustees Minneapolis, May 5-7
- Heard results of a member satisfaction survey for people in certain Aetna U.S. Healthcare point-of-service networks showing a high level of dissatisfaction with the selection of providers.
- Voted, based on the survey, to move ahead with plans to offer a BlueCross and BlueShield preferred provider plan as a choice for POS members. The choice will be offered first in the Pennsylvania and Chicago areas. Nine more states will be added next year. Plan members who choose the PPO plan to gain access to providers of choice will need to accept the trade-off of slightly less generous benefits to avoid increasing the cost of the plans.
- Moved to decrease deductibles for out-of-network PPO plans and increase the co-insurance from 70 percent to 75 percent.
- Learned that the Board of Pensions computer systems will be tested this summer by turning internal clocks on separate systems ahead to the year 2000 to assure Y2K compliance. With regard to long-term investing, trustees were assured that Y2K won't change current investment strategies.