The July meetings of the AMO Executive Board and AMO Plans Board of Trustees saw the culmination of months of efforts, studies, financial modeling, and numerous discussions.
These sessions involve the National Executive Board assembling and hearing reports from union officials and staff, and others. The board discusses many developments during the meetings.
Separately, the AMO Plans Board of Trustees meets to review, read into the record, and vote upon many things – some routine business of AMO Plans, some benefit adjustments, and some regular reports that are required to be read and approved. There is more to it than that, and a lot of business is addressed in a short time.
For all of these meetings, AMO member observers are invited with all expenses paid. Three members attended the July meetings. That is a traditional practice that is important to continue into the future.
But, in some other respects, tradition can occasionally become a trap.
These meetings have, for as long as I’ve been aware of them, occupied the entire week, with some of the staff and consultant reports being repeated in both the union and the AMO Plans meetings.
This AMO Executive Board immediately began in February looking at how to do things better, and one of those things is the agenda for these meetings.
The truth is, the Executive Board is fully briefed on most of the staff reports, as they are recitations of the day-to-day developments of the many things the union does. With the primary goal of spending more time focused on the AMO member observers, we’ve reduced the general AMO meeting to one full day. This gives the observers much more one-on-one time with the Executive Board and with individual staff members so we can hear what they have to say about the issues we discuss at the meeting and answer their questions.
While shaping the union’s Executive Board meetings is a work in progress, direct interaction with member observers is starting to replace days of lengthy and elaborate presentations, and I think more useful knowledge is being gained by everyone involved.
We are keeping the key presentations that provide information the observers and staff may not be aware of, such as those from our financial managers, the AMO Plans executive director, and the STAR Center training director. Everything else is being condensed so as to provide member observers with enough information that they will know which areas they want to know more about and what questions they want answered, and to provide the opportunity for them to add their input to the discussion.
The AMO Plans Board of Trustees meetings are a little different. There is much done there that is required by regulation or law. However, there are avenues for making the agenda for those meetings more efficient and we made some major adjustments prior to July.
While some might see this effort as potentially limiting the information provided during the meetings of the trustees, it really does not. The required statements, recitations, and votes are just that, and the meeting moves very quickly through most of this business, as all of the trustees are already aware of what is being presented. A subcommittee of AMO Plans trustees meets on a regular basis and much of the day-to-day business has already been addressed in these regular meetings. All trustees are briefed on the discussions and developments with the specific benefit plans for which they serve as trustees.
Among the things discussed but not completed during the July session include the following initiatives, many of which have taken shape through our extensive interaction with sailing members over the past six months.
1. An effort to place an out-of-pocket cap in the Medical Plan for AMO retirees not yet eligible for Medicare was tabled for further discussion and financial modeling. We are trying to chart a course to achieving a $30,000 annual cap on a retiree’s financial outlay in the event of catastrophic medical events. At the current time, there is no cap.
To refresh, active members are in a 90/10 plan – 90 percent covered by AMO Plans and 10 percent covered by the member, with a $3000 cap for single members and a $6000 annual cap for families. Retired members not yet eligible for Medicare are in an 80/20 plan with no annual cap. Retired members who are eligible for Medicare are in an 80/20 plan, with Medicare covering 80 percent and AMO Plans covering 20 percent.
2. Money Purchase Benefit: We are developing a few scenarios for analysis in an effort to restructure the fees charged to members in the MPB, but who have low account balances. As with every retirement saving plan, there are account fees and maintenance costs. We are looking at fee modifications to mitigate fees being assessed for MPB accounts with low balances.
3. Concerns with reimbursement for out-of-network claims under the new dental plan are being addressed and achieving a resolution is at the forefront. Those utilizing in-network providers continue to receive discounted services and providers are submitting their claims for the participants through the CareFirst system automatically. If you are experiencing any issues, please contact the Plan office at 800-348-6515 extension 12.
These are not the only benefit enhancements the union and the employer trustees are discussing and member input is always encouraged.
As noted, our goal is to make the Executive Board meetings and Board of Trustees meetings more informative for member observers and to provide more opportunity for direct interaction and productive discussion.
We would also like to have more AMO member observers at all of these meetings.
The next meetings are the week of November 18 at HQ in Dania. Your engagement in the process is paramount to building a better future. Reach out to myself or any on the Executive Board so we can plan on your participation. You have a chance not only to interact with all of us, but the company trustees, Plans administration, and our advisors. I hope to see you there.
Willie Barrere
National President