June 6, 2013
COLLEGE STATION — Texas A&M University System Chancellor John Sharp approved the reinvestment of $5 million in health care reserves to offset premium increases as a result of increased medical trends and higher than expected health care costs for fiscal year 2014. The average A&M System employee will see a decrease of 16 percent in their monthly healthcare premiums.
“We have been working hard to reduce the effects of rising health care costs on our employees,” said Sharp. “Through aggressive negotiations with our benefit providers last year and the diligent work by our representatives in Austin, our employees will be paying over $10 million less in premium contributions compared to fiscal year 2013 in spite of rising costs.”
The 2014 plan will also include the System Wellness Initiative, a two-year program aimed at increasing wellness among employees. Under this two-part program, the chancellor has provided funding for campuses and agencies to provide webinars, classes, bio-metric screenings, health fairs and other wellness-related activities. Additionally, all insured employees and spouses will be offered a $30 monthly premium discount in fiscal year 2015 for completing a free wellness exam between January 1, 2013 and May 31, 2014.
About the A&M System
The A&M System is one of the largest systems of higher education in the nation, with a budget of $3.3 billion. Through a statewide network of 11 universities, nine agencies and a comprehensive health science center, the A&M System educates more than 120,000 students and makes more than 22 million additional educational contacts through service and outreach programs each year. Externally funded research expenditures exceed $780 million and help drive the state’s economy.
Texas A&M System
Steven B. Moore