Michelle Bauer

The Finance Board meeting involved several key discussions and actions. The Director provided an update regarding the development of the Fiscal Year 2027 Finance Plan proposal and introduced the new Fiscal Officer. A preview of the Public Hearing Presentation concerning the proposed FY27 Finance Plan was conducted, during which an error regarding spousal surcharge changes for Non-State agencies was noted and disregarded. The CFO reviewed the five-year plans for both PEIA and RHBT. Public comments included clarifying questions about proposed changes and concerns over upcoming member increases. Ultimately, the Board unanimously approved taking the proposed FY27 Finance Plan to the upcoming 2025 Public Hearings.

The meeting included discussion of FY27 and public hearings. The board reviewed financial statements YTD. Proposed FY27 plan decisions were discussed including state fund, non state fund, and retiree fund changes. Changes to the proposed plan and plan approval were also discussed.

The meeting included discussions regarding the successes and shortcomings of the fiscal year-end, emphasizing national trend concerns and their potential impact. There was a review of the PEIA and RHBT 2025 fiscal year-end financials, with attention to areas that closed ahead of projections, including a discussion on the decrease in IBNR. An update on the financial plan confirmed alignment with predictions. Public comments addressed concerns about media reports, prescription costs, the spousal surcharge, and unaffordable premiums for retirees. The potential impact of these decisions compared to benefits in neighboring states was also discussed.

The meeting included updates from the Director, a financial plan update, and a review of financial statements. Public comments addressed concerns about the direction of trends and potential relief for retirees, as well as urging the board to resist privatization. The board also discussed the Spousal Surcharge.

The meeting included the introduction of PEIA's new Director, Brent Wolfingbarger, and an announcement that RHBT Controller, Jennifer Priddy, would be moving to a different agency. Financials for PEIA and RHBT were reviewed, and an update on the financial plan indicated that projections for the end of FY 25 are on track. Legislative updates included Senate Bill 833, related to the Gold Card Process. Public comments addressed concerns about the plan for funds from the Legislature, the effects of bills from the 2025 Legislative Session, and the long-term plan, with emphasis on the importance of considering all options together.