JLM announces 2025 insurance premium updates

The Joint Labor Management Health Insurance coalition has announced SEGIP proposed, and MMB approved, the following changes to premiums for 2025.

This slide includes the reserve drawdown factor that gets us to a 5.5% premium increase overall for medical. Drawing down the reserve by roughly $40 million translates to a rate reduction factor of 3.9 percentage points. The increase factors of 12.9% minus the rebate decrease factor of 3.4% minus the reserve drawdown decrease factor of 3.9% equals the 5.5% overall increase.

Similarly, we have added 2025, 2026, and 2027 to the slide on historical premium increases in the below. As you will see, at this time we are projecting increases of 7.5% in 2026 and 7.5% in 2027. That is even with additional reserve drawdown planned for both of those years, with the goal of reaching our reserves target by the end of 2027.

And then in the below three slides we show actual dollar amounts for the employee share, agency share, and total premium for medical, dental, and vision, and then the change from 2024.