August 29, 2018

Portico rate increase lowest since 2013

On Aug. 3, Portico Benefit Services’ board of trustees voted to approve, on average, the lowest contribution rate increase in five years. This will include disability and survivor rate reductions, sizable reductions in the cost of ELCA Medicare-Primary health benefits, and a low baseline ELCA-Primary health rate increase. While these changes will impact individuals and congregations differently, Portico’s responsibility as the ELCA’s benefit ministry is to support the long-term interests of the community as a whole.

At this meeting, trustees also approved several health plan adjustments that will:

  • Increase deductibles and out-of-pocket maximums for the Gold+ and Platinum+ ELCA-Primary benefit options
  • Adjust the cost of coverage for spouses, children, and families relative to “member only” coverage
  • Increase the affordability of the ELCA Medicare-Primary health benefit Economy option

Rev. Jeff Thiemann, Portico’s president and CEO, praised Portico’s ability to hold the line on costs while delivering high-quality benefits. “Thanks to our long-term plan management approach, our strong negotiating position with vendors, our knowledge of the evolving benefit industry, and our ongoing commitment to innovation, as many as 50% of ELCA sponsoring employers are projected to see lower aggregate costs for health, disability, and survivor benefits next year. While this is unlikely to happen each year, cost reductions of any kind are an important indicator that our long-term cost containment efforts are working.” Get the full story.