Minutes of a Regular Meeting of the
Board of Directors
VLCT Employment Resource and Benefits (VERB) Trust, Inc.
August 4, 2016
VLCT Offices, Montpelier, Vermont
Directors present: Bill Shepeluk, Kathleen Ramsay, Carrie Johnson, Joel Cope, Sandra Gallup, Charles Safford and Todd Odit. Directors absent: Joe Colangelo.
VLCT staff present: Ken Canning, David Sichel, Jeremiah Breer, Kelley Avery, Jill Muhr and Abby Friedman.
The meeting was called to order at 9:36 a.m.
A board quorum was confirmed.
Upon motion (Ramsay/Safford), duly adopted, the board voted unanimously to approve the meeting agenda.
Upon motion (Safford/Johnson), duly adopted, the board voted unanimously to approve the minutes of the April 28, 2016 meeting.
Director Sandy Gallup will be retiring from the City of Montpelier September 1st, so this meeting will be her last. The board thanked her for over 10 years of service, and President Shepeluk presented her with an honorary plaque. Nominations will be sent out to the membership prior to the upcoming annual meeting in October, and once nominations are received the board will decide at that time whether or not to elect another board director or alternate.
Three directors have terms expiring this year: Johnson, Colangelo and Odit. President Shepeluk appointed directors Safford, Ramsay and Cope to serve on the nominating committee for the next board meeting.
Ken Canning reviewed the staff report including recent changes to and accomplishments of VLCT staff. Kelley Avery updated the board on past, recent and continuing marketing efforts to promote the VERB Trust's Health Insurance Advisory Services Program.
Jeremiah Breer gave a brief overview of the unaudited financial results through June 30, 2016. Both claims and administrative costs are coming in well under budget through the second quarter, and investments are performing well. Total net position stands at $4.6 million with an operating deficit of $105,000.
Kelley Avery reviewed the unemployment claims reports through June 30, 2016. Second quarter claims costs decreased 47% from the prior quarter, and also decreased by 7% compared to the second quarter of 2015. Claims frequency is also down compared to both prior quarter and the same quarter of 2015.
Jill Muhr and Abby Friedman reviewed the activities of the Human Resources Program since its inception last fall. These activities have included trainings, on-site visits, member outreach, publications, development of a web page and updates to policies, manuals and job descriptions. Member feedback regarding the program thus far has been very positive.
Kelley Avery reviewed the most recent Health Advocate utilization report through the second quarter of 2016. Utilization increased last fall and into the first quarter of 2016, but has fallen off sharply in the second quarter of this year. Marketing efforts continue including emails to participating groups, payroll stuffers and newsletter articles. Health Advocate will also have a booth at Town Fair and has volunteered to accompany Member Relations Manager Larry Smith for member on-site educational meetings in late August.
Ken Canning provided an overview of the strategic planning process, of which the PACIF Board has already taken part, developed by an organization known as On Strategy. The PACIF Board has almost completed their strategic plan, and staff plans to implement a similar process with the VERB Trust board in 2017.
There was no other business.
Upon motion (Safford/Cope), duly adopted, the board voted unanimously to adjourn the meeting (11:42 a.m.).
David Sichel, Assistant Secretary