Benefits of the Collective Purchasing Power of the Consortium
- Retirees have More Options, Guarantee Issue, Same or Better Premiums, and can change plans if they move.
- Non-Medical Benefits, specifically designed for Retirees, are provided and expanded annually.
- Benefit Plans are based on the Retiree’s place of residence.
- Plans are District sponsored as required by Florida Statute 112.0801.
- Cost of Active Employee Health Plans has been positively impacted by the Consortium Program.
- FSRBC is governed by an appointed Board of Directors and Plans selected through a public RFP process.
- The initiative is endorsed by Union and Management and administrative assistance Is provided by FBMC.
- Retirees who left the District Health Plan have the option to re-join.
Examples of Financial Impact on Participating Districts
|District Health Plan||Medicare Retiree Revenue / Expenses||SAVINGS||GASB Liability||Current / New||REDUCTION OF LIABILITY|
|Brevard||$3,080,220 / $3,469,408||$389,188||Brevard||$102 Million / $51 Million||$51 Million|
|Duval||$7,883,000 / $8,533,000||$650,000||Duval||$135 Million / $62 Million||$73 Million|
|Escambia||$2,005,000 / $2,728,000||$723,000||Escambia||$30.8 Million / $15.4 Million||$15.4 Million|