Transcript Highlights:

• I want to talk about Medicare coverage for new technologies and innovation.
• If you can't afford the insurance, you just go without coverage. that are accessing Medicaid.
• have traditional Medicare, where the federal government provides health care coverage directly.
• State officials call it Georgia Pathways to Coverage. I call it Georgia Pathways to Nowhere.
• Georgia's pathways to coverage is a roadblock to care.

Keywords: Michael Falkender, Deputy Secretary of the Treasury, IRS, taxpayer privacy, nomination process, committee hearing

Summary: The committee convened to discuss critical issues surrounding the nomination of Michael Falkender for the position of Deputy Secretary of the Treasury. This meeting included a series of remarks from committee members who expressed divergent views on Falkender's qualifications and the implications of his appointment. Senator Wyden voiced strong opposition, arguing that Falkender represents harmful policies expected to be perpetuated under the current administration, especially concerning taxpayer privacy and IRS tactics. Meanwhile, other members defended Falkender, noting his extensive experience, including a commitment to transparency in government operations if confirmed.

Transcript Highlights:

• <00:11:08.800> Uh medication coverage? If so, when? Uh medication coverage? If so, when?
• <00:11:43.680> About coverage changes in 2024 to 2025.
• About coverage changes in 2024 to 2025.
• and this in cover this ensures coverages and this in cover this ensures coverages for<00:15:37.839
• > broadly<01:12:13.120> for If Medicaid coverage expands broadly for If Medicaid coverage

Keywords: 958, all

Summary: The Medicaid Oversight and Advisory Board met on February 23, 2026, approved the January 12 minutes, and then focused primarily on Kentucky Medicaid’s coverage and potential expansion of GLP-1 drugs, especially for weight loss. Department for Medicaid Services Commissioner Lisa Lee explained that Medicaid currently does not cover drugs for weight loss, anorexia, or weight gain, but the department had filed a regulation to remove that blanket exclusion so GLP-1s could be covered when used for an underlying health condition. She said the administrative regulation review subcommittee found the regulation deficient, and the co-chairs wanted the board to discuss the policy and financing implications before any change. DMS also said it would be open to adding caveats to ensure coverage would not extend to cosmetic weight loss alone. The department provided several data points on current utilization and spending. In 2025, Kentucky Medicaid paid for appetite-stimulating drugs such as Megestrol, Dronabinol, and Marinol, but did not pay for weight-loss drugs. For GLP-1s, DMS said coverage began in 2025 and is limited to FDA-approved medical conditions, with prior authorization requiring a type 2 diabetes diagnosis code and A1C documentation. DMS reported $234.6 million in GLP-1 spending in 2025 before rebates, about 240,931 prescriptions, and said GLP-1s accounted for 7.3% of pharmacy spend in 2024 and 8.3% in 2025. It also said there were 24,844 expansion members and 13,638 non-expansion members using GLP-1s, with spending of about $156 million and $78.5 million respectively, and that 10 pediatric weight-loss prescriptions were covered under EPSDT. The department said outcome analyses, including whether GLP-1 use reduces insulin or other diabetes treatment, are underway and should be completed in a couple of months. Members asked about cost, rebates, and whether the state should wait for more outcomes data before expanding coverage. DMS said average reimbursement to pharmacies was $975 per prescription and the average dispensing fee was $109; it also said 2025 rebate invoices totaled $90.8 million, with $7.6 million collected so far. Several members expressed concern about the high cost and the need to evaluate whether the drugs improve health outcomes before expanding access, while others noted the potential benefits for obesity and diabetes treatment. Some members also discussed whether GLP-1s are effectively being used for weight loss in diabetic patients and whether broader data collection should be used to assess long-term value. After the Medicaid discussion, Eli Lilly executive Tracy Sims presented on obesity as a chronic disease and the economic burden it creates in Kentucky. She said Kentucky’s adult obesity rate is a little over 37%, that obesity is linked to about 200 diseases, and that untreated obesity costs the state billions in GDP and hundreds of millions in state budget impact. She highlighted recent federal access programs for GLP-1s, including a Medicaid-related program that she said could lower the state share of a Zepbound prescription to about $71 per month after federal matching. No votes were taken on the GLP-1 policy question during the meeting, and the main action was the receipt of testimony and discussion of the department’s proposed regulatory change.

Transcript Highlights:

• Community behavioral health services fall within a variety of the mandatory and optional coverages that
• We've also given you the federal poverty level for Apple Health coverage for the expansion population
• The population most at risk of... ...a little bit, the population most at risk of losing coverage due
• It shortens some periods of retroactive coverage eligibility from three to one month for Apple Health
• So we do know it is costly to those folks who have to seek care without coverage, for sure.

Summary: The Ways and Means Committee held a work session to review how H.R. 1 (the One Big Beautiful Bill Act) could affect Washington’s Medicaid, long-term care, developmental disabilities, and food assistance programs, with a focus on implementation challenges, fiscal impacts, and likely coverage losses. Staff and agency officials explained Washington’s Medicaid financing structure, eligibility categories, caseload trends, and the role of the Health Care Authority and DSHS in administering Apple Health and related services. They also described how Medicaid expansion increased access to behavioral health services and how H.R. 1’s provisions are expected to affect the expansion population most directly. Health Care Authority and DSHS officials outlined several major H.R. 1 changes: new work and community engagement requirements for the Medicaid expansion population, six-month redeterminations instead of annual renewals, changes to immigrant eligibility, limits on provider taxes and state-directed payments, new cost-sharing requirements, reduced retroactive coverage, and changes affecting long-term care eligibility. They said Washington is still awaiting federal guidance on many details, but estimated that about 620,000 Apple Health expansion enrollees could be subject to work requirements, that roughly 30,000 immigrants could lose Medicaid eligibility under the new definition of qualified alien, and that some long-term care and developmental disability clients could be indirectly affected. Officials also said the state is working with other agencies to build shared verification systems and may seek a delay waiver, though they do not expect broad federal flexibility. The committee also heard that H.R. 1 immediately blocks Medicaid reimbursement for Planned Parenthood services for one year, with the state planning to backfill about $11 million to preserve access. In addition, officials warned that the law could reduce federal Medicaid revenue by billions over time and strain hospitals and emergency rooms as more people become uninsured. They noted that Washington’s rural health transformation grant application is due November 5 and could bring some funding, but not to offset coverage losses. No votes were taken; the session was informational only. The committee then heard a separate presentation on food assistance, where staff and DSHS described H.R. 1’s SNAP changes, including expanded work requirements, immigrant eligibility restrictions, higher state administrative costs, and a possible future state share of benefit costs tied to payment error rates. DSHS estimated a four-year fiscal impact of about $750 million for food assistance changes and said the state is working on system and policy changes across agencies before the new requirements take effect.

Transcript Highlights:

• Thank you all for letting us hear House Bill 164 today, an act relating to the coverage of hearing aids
• It will authorize full coverage of hearing aids up to $2,500 per year for children.
• coverage of hearing aids. coverage of hearing aids.
• hearing aid, increases the coverage hearing aid, increases the coverage amount<00:09:06.600>
• <00:09:40.520> of it will authorize full coverage of it will authorize full coverage of hearing

Keywords: Meeting Start 00:00 Call to Order and Roll Call 00:12 Discussion HB 527 00:47 Vote HB 527 02:26 Discussion HB 265 04:46 Vote HB 265 06:49 Discussion HB 164 08:19 Vote HB 164 10:25, 958, all

Transcript Highlights:

• <00:14:43.600> which homeowners insurance coverage which homeowners insurance coverage which
• their underlying homeowners coverage.
• Have the assumption that they've got flood insurance coverage via their underlying homeowners coverage
• regarding total loss rental coverage regarding total loss rental coverage already<02:21:48.439><
• Federal transparency in coverage Federal transparency in coverage requirements<04:52:14.760>

Keywords: 928, house, all

Summary: The committee heard testimony on a non-germane amendment to HB 297 that would create the Granite State Home Mitigation and Resiliency Program. Insurance Commissioner DJ Beton, joined by department staff, explained that the proposal is intended to help homeowners afford insurance by funding proactive home improvements that reduce risk and improve insurability. He said the program would be funded by the first $1 million collected annually from the insurance premium tax, with grants of up to $10,000 available on a first-come, first-served basis. Beton described the problem as rising homeowners insurance premiums, hard-market underwriting, nonrenewals, and the resulting shift to more expensive surplus lines coverage. He said eligible projects could include roof fortification, exterior improvements, flood-related foundation work, and removal of hazardous trees or limbs. He cited similar programs in other states, especially Alabama, Louisiana, and North Carolina, as evidence the model can work and noted that industry representatives were present in support. He also said the program would use means testing aligned with the Department of Energy’s weatherization program to target lower-income applicants. Members asked about the non-germane process, who would administer the program, and how the bill would prevent misuse of grant funds. The commissioner said the department would administer the program using one repurposed existing position, with Treasury handling fund flow through an MOU. Staff explained that applicants would have to show completed work through a signed contract, itemized work, and a sworn contractor affidavit, with some upfront payment allowed for materials and the remainder paid after completion. The chair and members discussed that the amendment is being attached to a different bill only to move the proposal through committee and on to House Finance for further consideration.

Transcript Highlights:

• Filing of rating information—certain coverages; rules.
• Coverage requirements and E. D. Coverage requirements and E.
• Acupuncture coverage, $18 million, to increase premiums.
• The distinction between health coverage, sickness and accident, and employer liability coverage has been
• <07:38:22.878> I ...is clarity in terms of coverage.

Keywords: 981, all

Transcript Highlights:

• The coverage that will be provided to these youth includes care coordination...
• The coverage that will be provided to these youth includes care coordination services, targeted case
• Their case isn't closed, but the coverage is suspended for 12 months so that if they are released and
• But initially, we just suspend the coverage.
• But initially, we just suspend the coverage.

Summary: The committee first heard extensive public testimony from youth and advocates urging stronger restrictions on vaping. Speakers described vaping as a youth-targeted public health problem, citing flavored products, social media marketing, nicotine addiction, brain development concerns, school disruption, and exposure to harmful aerosol. They recommended prohibiting vaping in public indoor spaces and aligning vape rules with smoke-free laws. Committee members praised the speakers and encouraged them to continue building support for future legislation. The main presentation was on Arkansas’s Rural Health Transformation Program, administered through DFA. Secretary Jim Hudson and program director Brad Andi explained that Arkansas received about $209 million in the first year under the federal program, with potential for roughly $1 billion over five years if performance is strong. They emphasized that the program is meant for long-term rural health transformation, not general operating support, debt relief, or new construction. The state’s plan centers on four initiatives: HEART for prevention and community health, PACT for access and provider collaboration, RISE for workforce development, and THRIVE for technology and telehealth. Officials said applications will be handled through upcoming notices of funding opportunity, with a focus on local, shovel-ready projects, regional collaboration, and transparency. Committee members asked how the program would work for hospitals, clinics, nonprofits, schools, faith groups, and urban providers serving rural patients. Officials said eligibility is broad if applicants can show a connection to rural health, and that targeted renovations, mobile units, school-based clinics, farm-to-school or garden projects, EMS equipment, residency expansion, and behavioral health initiatives may fit if they align with the plan. They stressed that the program cannot fund working capital, routine maintenance, or new buildings, but can support repurposing space and collaborative networks. Members also raised concerns about protecting existing rural providers from being displaced, and officials said applications would be reviewed by a state committee with technical assistance and a reimbursement-based process. The committee then reviewed and took no objection to several DHS and Health Department rules. DHS presented a Medicaid/CHIP rule implementing federal requirements for incarcerated youth, including pre- and post-release coverage, care coordination, targeted case management, and screening services, with no public comments received. The Health Department also presented a licensing rule for audiology and speech pathology that implements recent acts and changes the renewal deadline; that rule was likewise reviewed without objection. The meeting adjourned after no further business.

Transcript Highlights:

• can be complicated insurance coverage can be complicated but<00:14:45.079> it<00:14:45.199>
• <00:15:02.639> for<00:15:02.880> babies<00:15:03.600> with Medicaid coverage
• for babies with Medicaid coverage for babies with positive<00:15:04.240> newborn<00:15:04.720
• <00:25:27.799> of<00:25:27.960> Senate now as you follow our coverage of Senate now
• as you follow our coverage of Senate meetings<00:25:29.000> hearings<00:25:29.520> and

Keywords: 1187, senate, all

Transcript Highlights:

• And we make a determination along those lines before we would sanction or remove health care coverage
• Nothing else about the coverage has changed.
• It was already mandated by federal law that we provide this coverage and also by a state law that was
• So there is no change to that coverage at all.
• We had no intention of ending our coverage because there was a state law that required coverage.

Summary: The meeting opened with approval of the prior minutes and then took up two Department of Human Services rules. Mary Franklin of DHS’s Division of County Operations presented a Medicaid/CHIP rule that removes the 90-day waiting period for certain ARKids B children who lose other coverage, clarifies child support enforcement procedures for pregnant women, and updates good-cause language to say “rape or incest” rather than “forcible rape.” Members asked about how child support referrals and sanctions work during pregnancy and the postpartum period; Franklin explained that sanctions would not be imposed until after the 60-day postpartum period and that good-cause determinations can prevent sanctions in appropriate cases. The rule had no public comments and a small fiscal impact, and it was reviewed without objection. Elizabeth Pittman of DHS’s Division of Medical Services then presented a medication-assisted treatment rule. She explained that the change simply removes an expired federal end date from the state plan and updates the CMS template, while leaving existing coverage for counseling and lab services tied to substance use disorder treatment unchanged. In response to questions, she said the rule does not add new benefits or costs because the coverage was already required by federal and state law. The committee reviewed the rule without objection. The meeting also included an informational presentation from Jenna Goldman of UAMS about a culinary medicine experience for legislators, scheduled for March 16 for the Senate and March 17 for the House at the Institute on Aging in Little Rock. She described it as a food-is-medicine program where participants would learn about healthy cooking and how to apply it in communities with limited food options. Members discussed its connection to rural health and potential grant opportunities. The meeting ended with a brief visit from a Monticello sixth-grade class, who asked Capitol trivia questions before the committee adjourned.

Transcript Highlights:

• And we make a determination along those lines before we would sanction or remove health care coverage
• Nothing else about the coverage has changed.
• It was already mandated by federal law that we provide this coverage and also by a state law that was
• So there is no change to that coverage at all.
• We had no intention of ending our coverage because there was a state law that required coverage.

Summary: The committee met briefly to approve prior minutes and then reviewed two Department of Human Services rules. The first, from the Division of County Operations, would remove the 90-day waiting period for certain ARKids B children who lose other coverage, clarify child support enforcement procedures for pregnant women and postpartum sanctions, and change the good-cause language from “forcible rape” to “rape or incest.” DHS said there were no public comments and only a small fiscal impact for system changes. The second rule, from the Division of Medical Services, updates the Medicaid state plan for medication-assisted treatment by removing an expired federal end date and adopting a new CMS template; officials said coverage does not change and there is no financial impact. Both rules were reviewed without objection. Members also heard an informational presentation from UAMS about a culinary medicine experience planned for March 16 for the Senate and March 17 for the House at the Institute on Aging in Little Rock. The program is intended to show how food can be used as medicine and to connect with the state’s rural health transformation priorities and possible grant opportunities. Members were encouraged to attend, wear comfortable shoes, and participate in the kitchen-based activity. The meeting ended with special recognition of a Monticello sixth-grade class visiting the Capitol for a scavenger hunt. A student asked several questions about the Capitol building’s materials and architecture, and members responded informally before the committee adjourned with no further business.

Transcript Highlights:

• He explained that how much a retiree has to pay for health insurance coverage, and the levels of coverage
• He explained that how much a retiree has to pay for health insurance coverage, and the levels of coverage
• More the cost of coverage.
• single coverage for 2026 is 11054. single coverage for 2026 is 11054.
• ,<01:00:18.799> the<01:00:19.040> $1,15 single coverage, the $1,15 single coverage,

Keywords: Meeting Start: 00:00:35 Attendance Roll Call: 00:00:55 Approval of Minutes: 00:02:56 Deferred Compensation Authority Update: 00:03:12 Retiree Health Update - TRS: 00:15:58 Retiree Health Update - KPPA: 00:56:13 Adjournment: 01:08:10, 958, all

Summary: The Public Pension Oversight Board met with a quorum, approved the prior minutes, and heard updates from the Kentucky Public Employees Deferred Compensation Authority and the Teachers Retirement System. The deferred compensation update highlighted continued growth in assets to about $4.787 billion and roughly 88,000 participants, strong retention from auto-enrollment, a marketing campaign tied to pay raises that generated additional participation, and a new self-directed brokerage account expected to launch July 1 of the coming year for participants with at least a $40,000 balance, allowing up to 25% of their account to be moved into the brokerage window. The director also described the free financial planning service, which has been used by about 3,500 participants with a high return rate, and said the plan is currently in a fee holiday; if fees are charged, they are capped at $237 per year for most participants. Members asked questions about who provides the CFP service, the fee structure, and the brokerage eligibility threshold. The director said the CFP service is provided through the authority’s service bundle with Nationwide, not as a separate paid service, and explained that the fee cap and current fee holiday are intended to keep the program low-cost. Board members praised the deferred compensation program’s performance and asked for a copy of the legislation referenced in the presentation. TRS then presented on retired teachers’ health insurance. Barnes first clarified how declining federal contributions for federally funded school positions affect the retirement annuity trust, explaining that if those federal dollars fall, the amounts would need to be covered through the SEEK formula and that the projection for those contributions is about $80 million over the next three years. He then reviewed TRS retiree health coverage, distinguishing between KEHP for retirees under 65 or not Medicare-eligible and MEHP for Medicare-eligible retirees, and explained that TRS recently completed RFPs for both prescription drug and medical coverage. TRS will keep Express Scripts for prescription drugs, but will move the Medicare Advantage medical plan from UnitedHealthcare to Humana on January 1, 2026, while keeping the plan design, provider access, and out-of-pocket structure largely unchanged, with a new hearing-aid benefit of $500 per ear. Barnes also reported the 2026 premium and contribution changes: the maximum TRS contribution toward KEHP will rise to $1,144.96 from $930.76, an 18% increase that he said will require roughly $15 million to $16 million more in the state budget, while the MEHP premium will drop to $200 per month from $210. He said the TRS board has statutory authority to set these amounts and that the changes will have mixed actuarial effects, with the KEHP increase being negative overall and the MEHP decrease positive.

Transcript Highlights:

• trying to understand where the coverage trying to understand where the coverage from<01:53:05.280
• gt;> So that additional coverage >> So that additional coverage >> that<02:22:29.840><
• So either commercial coverage or no coverage. Our bucket of state general funds has not increased.
• There is coverage.
• uh Harvard Pilgrim Healthcare coverage uh Harvard Pilgrim Healthcare coverage that<03:22:24.640>

Keywords: 1191, senate, all

Transcript Highlights:

• <00:12:35.839> options workers compensation coverage options workers compensation coverage
• > again, or lapses in coverage, but but again, or lapses in coverage, but but again, can<00:19
• And you not have required coverage.
• secure workers compensation coverage? secure workers compensation coverage?
• compensation insurance coverage? compensation insurance coverage?

Keywords: 1189, house, all

Transcript Highlights:

• program delivers comprehensive coverage through preferred provider organizations, also known as PPO,
• Our dental program offers out-of-state coverage, just like our health plans.
• We have approximately 450 individuals enrolled and using out-of-state coverage.
• MetLife will offer two plans moving forward that will have out-of-state coverage as well.
• Of the dentist, my dentist has always said, wow, you have really good coverage, until this year when

Summary: The Joint Legislative Audit Committee met to hear new audit requests and receive a status update from the State Auditor. The auditor reported 10 JALAC audits in progress, noted that all 2025-approved audits are underway, said the first 2026 audit is focused on DMV license revocations, and described several statutory and high-risk audits already in progress. The committee also approved a consent calendar of four audit requests: UC library resources, law enforcement information sharing, EDD unemployment insurance claims, and Housing and Community Development housing development monitoring. The committee then considered Assembly Member DeMaio’s audit request on SANDAG road project management. DeMaio argued the audit was needed to examine whether transportation funds, including voter-approved and restricted revenues, were used for allowable purposes and whether past management failures warranted outside review. SANDAG’s CEO and CFO said the agency already undergoes extensive oversight and audits, that funds are tracked by multiple “colors of money,” and that internal controls have improved. Several members questioned whether the issues were already addressed in public records or existing audits, and the request failed on a roll call vote. Next, Senator Valadares presented an audit of the Board of State and Community Corrections’ Proposition 47 grant administration, arguing that more transparency is needed on outcomes, recidivism data, and oversight of grantees. The BSCC said it already has oversight mechanisms, that the State Controller conducts biennial audits, and that program data shows positive outcomes. The committee approved the audit unanimously. Senator Cortese then presented an audit of CalHR’s dental benefits procurement and Delta Dental contract, citing long-standing benefit caps, provider network concerns, and retiree out-of-pocket costs. CalHR said its network remains strong, that it recently completed an RFP adding MetLife as a second carrier starting in 2027, and that contracts include performance guarantees. Members from both parties expressed concern about access and competition, and the audit was approved unanimously. The committee then completed add-on votes on the consent calendar and adjourned.

Transcript Highlights:

• Basically what this does is it creates a Windstorm insurance coverage plan that is uniform and provides
• HB 383388 authorizes group property and casualty coverage for personal lines.
• Allowing personal lines will benefit Texans and provide a greater choice for coverage.
• for personal lines of property and incidental liability coverage.
• That means that for personal line group policies, the coverage limit you buy is your coverage, and one

Transcript Highlights:

• It requires health insurance coverage of medically necessary treatment for persons with acquired brain
• And so this bill is aimed at getting some insurance coverage to handle those cognitive behavioral and
• And secondly, there was a provision in Obamacare whenever it was passed that any coverage mandated by
• To clarify, health care insurers are not required to provide coverage for routine preventative dental
• The lack of coverage for these dental evaluations slows access to care.

Keywords: 965, house, all

Transcript Highlights:

• So, it empowers these smaller communities and it gives us seamless statewide coverage.
• So having seamless statewide coverage is important.
• We don't just have county coverage.
• It provides a lot coverage is important.
• The elevation program achieved statewide coverage of phase one LAR in 2017.

Keywords: Meeting Start 00:00:00 Commonwealth Office of Technology 00:01:10, 958, all

Summary: The committee first approved minutes from prior meetings after a motion and second, then heard a presentation from Kent Annis and Boyd Sheerer of the Kentucky Division of Geographic Information on the state’s “KY from Above” aerial imagery and elevation program. The presenters described the program’s goals of creating openly accessible statewide imagery and elevation basemaps, reducing duplicative local and state spending, and supporting uses such as transportation, emergency response, utilities, broadband planning, property taxation, economic development, and education. They said the data is owned by the Commonwealth, distributed in the public domain, and has strong return on investment, with statewide ortho imagery coverage completed in 2022 and elevation phases completed or underway in multiple stages. The witnesses emphasized that the program relies on cost-sharing among state, local, and federal partners and that a small state “seed” appropriation is needed to leverage larger federal contributions. They said about $300,000 a year in seed money could help secure additional federal funds, while a three-year imagery refresh cycle would cost about $5.7 million annually and storage/processing about $150,000 a year. They also noted that no subscription fee is charged for access, opposed charging for use of the data even by for-profit users, and said the program is intended as an economic development tool that avoids multiple entities paying for the same geography. Members asked about the funding request, the potential federal match, and whether the state should charge private companies for access. The witnesses explained that the requested amount was for aerial photography and LAR seed money, that federal funds would not cover aerial photography directly, and that the program already uses a cost-share model with 28 partners rather than subscriptions. They also clarified that imagery is refreshed every three years and elevation data on a longer cycle, with elevation prioritized because it supports accuracy for roads, water lines, and broadband planning. The presentation concluded with no formal vote on the program itself; after questions ended, the chair thanked the witnesses and adjourned the meeting.

Transcript Highlights:

• In order to provide that coverage, we need incentives that attract and retain health care providers.
• In order to provide that coverage, we need incentives that attract and retain health care providers.
• Coverage and access issues. And for those reasons, we ask you to support House Bill 259. Thank you.
• Also, the actual usage of the coverage after.
• That requires extra coverage.

Keywords: 996, all

Transcript Highlights:

• However, how much the retiree has to pay for health insurance coverage, and the levels of coverage provided
• But how much coverage is guaranteed.
• and the levels of insurance coverage and the levels of coverage<00:20:10.720> provided<00:20:
• more the cost of coverage. more the cost of coverage.
• Single coverage for 2026 is 11054.

Keywords: Meeting Start: 00:00:35 Attendance Roll Call: 00:00:55 Approval of Minutes: 00:02:56 Deferred Compensation Authority Update: 00:03:12 Retiree Health Update - TRS: 00:15:58 Retiree Health Update - KPPA: 00:56:13 Adjournment: 01:20:33, 958, all

Summary: The Public Pension Oversight Board received updates from the Kentucky Public Employees Deferred Compensation Authority and the Teachers Retirement System. Chris Biddle reported that deferred compensation assets had grown to about $4.787 billion with roughly 88,000 participants, crediting auto-enrollment, targeted marketing around pay raises, and retiree-focused services. He said the board’s self-directed brokerage account, authorized by last year’s legislation, is being designed around a $40,000 account-balance threshold with up to 25% transferable into the brokerage window, tentatively for July 1 of the coming year. He also described the free financial planning program, which has been used by about 3,300 to 3,500 participants with an 87% return rate, and noted that the plan is currently in a fee holiday; members asked about the fee structure and whether the CFP service is provided through Nationwide, which Biddle confirmed. Board members praised the deferred compensation program’s growth and asked for the legislation referenced by Biddle. He said the plan’s annual fees are capped, with a $1 monthly fee plus other charges up to a $225 cap, for a maximum of $237 per year absent a managed account. He also said the program is seeking unified payroll access to expand participation, especially among teachers, and that prior lineup changes saved about $6 million annually in participant fees. Bo Barnes of TRS then addressed retired teachers’ health insurance, first clarifying a prior question about declining federal contributions to the retirement annuity trust. He explained that federally funded school positions generated contributions that rose from $72 million in 2019 to $109 million in 2022, then fell to $85 million this year, with a projection of $80 million over the next three years; if those dollars do not come from federal sources, they would have to be replaced through the SEEK formula. Barnes then reviewed TRS health coverage, explaining that the statutory contract guarantees access to group coverage but not fixed premium levels, and that TRS administers two retiree plans: KEHP for retirees under 65 or otherwise not Medicare-eligible, and MEHP for retirees 65 and older or Medicare-eligible. Barnes said TRS completed RFPs for the 2026 plan year, retaining Express Scripts for prescription drugs and switching the Medicare Advantage medical provider from UnitedHealthcare to Humana, while keeping plan design, provider access, out-of-pocket costs, and benefits materially unchanged. He noted a modest hearing-aid improvement of $500 per ear beginning in 2026. He also reported that the TRS Board approved the maximum state contribution for KEHP at $1,044.96, up from $930.76, an 18% increase that he said would require about $15 million to $16 million more annually, while the MEHP premium would drop from $210 to $200 per month because of the new contract. Using the 2024 valuation, he said the KEHP increase would slightly reduce the health trust funded ratio from 80.4% to 80.1% and raise unfunded liability from $4.036 billion to $4.051 billion. Barnes closed by reviewing the 2010 shared-responsibility reforms that shifted retiree health costs away from a pay-as-you-go model, including phased employee and district contributions and Commonwealth stabilization funding. No votes were taken beyond approval of the minutes.

Transcript Highlights:

• are out there, the potential coverage are out there, the potential coverage loss,<00:38:45.680><
• immediate and significant coverage immediate and significant coverage losses.<00:48:00.160> If
• <01:02:34.720> to residents who rely on this coverage to residents who rely on this coverage
• people losing coverage. people losing coverage.
• , have a lot of people losing coverage, have a lot of people losing coverage, going<02:05:15.679>

Keywords: 1189, house, all