Wednesday, HealthSYNC, town hall meetings, and other events. Overall, 2019 was a very successful 1 year for the LSMS.
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2020 LSMS Multi-Employer 401k Plan
5 Mr. Williams and Ms. Bailey provided a status update on the LSMS Multi-Employer 401k Plan and 6 answered questions from board members. Upon conclusion, Mr. Williams asked, once again, for the 7 board’s continued approval to move forward with the final step(s) in transiting the LSMS retirement 8 plan from Principal to ACG Wealth Blue Star/Charles Schwab. With no further discussion, the 9 following motion was made:
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MOTION (APPROVED)
THE LSMS BOARD OF GOVERNORS APPROVES MOVING THE LSMS RETIREMENT PLAN FROM PRINCIPAL AND CREATING A MULTI-
EMPLOYER PLAN AS A MEMBER BENEFIT.
2020 LSMS Benefits Center
17 Mr. Williams and Ms. Watson presented their early due diligence surrounding the LSMS creating a 18 resource center for members during 2020. Ms. Watson elaborated that the resource center would be 19 something similar to what was currently being offered by the Louisiana Association of Business and 20 Industry. The resource center would contain various products and services geared directly to our 21 physician members, to possibly include insurance, human resources, compliance and employee 22 solutions. Ms. Watson stated that we were specifically looking at products and services such as health 23 insurance, vision and dental insurance, life and disability insurance, medical malpractice coverage, 24 payroll and tax solutions, telemedicine services, 401k participation, prescription discounts, as well as, 25 other offerings as they became available. Staff hopes to bring a final implementation plan and initial 26 product/service offerings to the board for approval during the second half of 2020. 29 Dr. Stevens shared a letter from the Jefferson Parish Medical Society (JPMS) requesting the LSMS 30 share its membership contact information for district 2 to include names, addresses, emails, and phone 31 numbers. Mr. Williams then stated a similar request had come to him via email from an outside 32 consultant hired by the Orleans Parish Medical Society (OPMS). In both instances, the staff informed 33 JPMS and OPMS that we did not share member information with outside entities and that this had been 34 our policy for several years per the LSMS Board of Governors. Mr. Williams shared that the staff had 35 been previously directed by the board to treat member information, especially email address, as 36 confidential and not to share them outside the society. However, Mr. Williams stated that this policy 37 was informal and had never been officially adopted by the board as LSMS policy. As a result, Dr. 38 Stevens asked Ms. Bailey, in her capacity as the society’s general counsel, to research the issue and have 39 a draft policy prepared ahead of the board meeting. Ms. Bailey then presented a draft policy for the 40 board to discuss and act upon. The draft policy reads: 27 28 Proposed LSMS Privacy Policy 41 42 IN KEEPING WITH FEDERAL TRADE COMMISSION GUIDANCE, THE LSMS RECOGNIZES THAT 43 MEMBERS’ PERSONAL EMAIL ADDDRESS AND OTHER IDENTIFIERS ARE VALUED AS 44 INDIVIDUAL ASSETS. AS SUCH, LSMS SEEKS TO PROTECT ITS MEMBERS FROM A 45 DIMINISHED VALUE OF THOSE ASSETS BY PROHIBITING THE SHARING OR SELLING OF 46 PERSONAL INFORMATION TO OUTSIDE PARTIES FOR USE ON ACTIVITIES NOT RELATED TO 47 LSMS GOALS AND OBJECTIVES.
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