Faculty Fringe Benefits and Welfare Committee
Annual Report, 2006-2007
The Fringe Benefit Committee met twice in the fall to discuss our annual insurance renewal options. Along with representatives from the staff and administration we considered several options prepared by Furman’s insurance consultant. Our claims experience and rising medical costs had us looking at a 19% increase in health premiums if we made no changes in our current coverage package. After discussion the consensus was to choose a slightly more restrictive network and to raise co-pays rather than raise premiums. This is the second year in a row that plan changes have been used to keep health premiums constant. Barring significant improvements in our claims experience we should expect premiums to resume their upward climb.
The committee will be meeting later this year to discuss proposals to hold down our costs through wellness programs and more judicious use of medical resources, including the possibility of on-campus access to primary medical care professionals. We also discussed the need to meet earlier in the year to orient new members to the workings of insurance contracts in general and Furman’s plans in particular.
Bruce Brown (chair)