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was $4,944,077. The move to Express Scripts and RX Benefits administrative services has
<br />generated a 20.8% overall pharmacy savings (cost avoidance) although overall pharmacy claims
<br />continue to rise year after year.
<br />Plan Financial Performance
<br />The plan's financial performance since FY2010 is reflected below. Based on actuarial projections,
<br />current funding is not sufficient to maintain the status quo and changes will be needed. Increases
<br />in premiums and plan design modifications will be required for the upcoming FY2019/20to fund
<br />the health plan and cover the. cost of medical and pharmacy benefits to covered members in the
<br />upcoming plan year.
<br />$3,000,000
<br />$2,000,000
<br />$1,000,000
<br />$0
<br />-$1,000,000
<br />-$2,000,000
<br />-$3,000,000
<br />Health Program Net Revenues
<br />FY10 - FY19 Projected.
<br />2010 2011 2012 2013 2014 2015 2016(1) 2017 2018(2) 2019(3)
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<br />Funding for the health plan is provided by employer, employee, and retiree contributions to the
<br />plan as well as OPEB funding. As of March 2019, the current plan year is running at a deficit and
<br />this trend is expected to continue into next year. Therefore, additional funding and plan changes
<br />will be needed to continue to provide affordable, competitive, and sustainable benefits for
<br />covered members.
<br />Affordable
<br />Indian River County has maintained a two tier premium for single and family coverage and
<br />maintains affordable premiums for both tiers of coverage. There is a strong provider network
<br />and network discounts through Florida Blue are good. The pharmacy benefit is administered by
<br />RXBenefits and the current PBM is Express Scripts. Members have a large network of
<br />pharmacies nationwide to obtain medications.
<br />185
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