Damon answers Shirlee's questions re: Medicare Advantage Plan

Damon Asbury to Shirlee Zerkel, June 6, 2007
Subject: FW: Question on Medicare Advantage Plan

Shirlee:

The Medicare Advantage rates and plan designs offered by vendors must be approved by the federal office of CMS and this step slows the process of providing plan sponsors such as STRS Ohio with final rates and plan designs. Most of the health plans we will consider cannot provide STRS with final information until later in the calendar year. The Board will receive the information on all of the fully insured plans, including the Medicare Advantage Plan, in August. If the Medicare Advantage premium rates are not competitive, staff will not recommend this option.

Staff will be asking for Board action on the self-insured and fully insured 2008 premiums in August and will also present additional information on the Medicare Advantage plans at that time.

Damon