In late October, the APEI Board of Directors gathered for two days of meetings, including the annual membership meeting, the regular fall board meeting, and a full-day planning session to develop a short- and long-term strategic plan for the company.
At the annual membership meeting, APEI Chief Operating Officer Laurel Eriksen presented the APEI annual report, including audited financial statements, for the fiscal year ending June 30, 2012. It will come as no surprise that the company is doing extremely well. If you are interested, a copy of the annual report is available to all APEI members upon request.
The first order of business for the board was the appointment of APEI board members. Jenny Martens, Director of Finance & Budget for the Lower Yukon School District, was appointed to a vacant seat on the board. We all look forward to working with Jenny in the months and years ahead. Karen Goodwin (Northwest Arctic Borough School District), Elizabeth Masoni (City of Unalaska), and Bob Herron (at-large) were also reappointed for new 3-year terms.
The board also took up some housekeeping issues, making minor revisions to the bylaws and cooperative participation agreement, and formally adopting changes to the company’s target equity policy. With adoption of this new policy, APEI will retain equity in an amount consistent with that retained by similar-sized private insurance companies.
As a result of the strategic planning session, APEI staff now have a long to-do list. Most immediate is working to get the legislature to address rising medical costs in workers’ compensation claims. Alaska now has the highest workers’ compensation rates in the country, which are being driven by very high and ever-increasing medical fees. The issue is now drawing the attention of Alaska’s public and private employers alike, and I am optimistic that some solution will be found during this next session.