1.   Type of Committee

2.1 Advisory Committee

2.  Purpose

2.1. The Medical Insurance Program Committee (“Program” and “Committee,” respectively) provides advice to the General Manager of the Human Resources Department on matters described in section 4.

3.  Membership

3.1 Chairperson: General Manager of the Human Resources Department

3.2 Members:

3.2.1 President of the Retirees Association

3.2.2 President of the Staff Association

3.2.3 Executive Secretary of the Staff Retirement Plans

3.2.4 Chief, Social Protection and Health Division of the Social Sector

3.2.5 Chief, Accounting Division of the Finance Department

3.2.6 Chief, Division of the Comptroller of the Inter-American Investment Corporation Secretary: Chief, Compensation, Benefits, and Human Resources Services Division of the Human Resources Department Alternate Secretary: Employee Well-being and Health Benefits Team Leader of the Compensation, Benefits, and Human Resources Services Division of the Human Resources Department.

3.2.7 The Chairperson may authorize the attendance of additional persons for specific meetings, either as participants or observers, taking into consideration the respective agenda and such considerations of confidentiality as may be appropriate.

4.  Functions

4.1 Advise the General Manager of the Human Resources Department on any proposed substantial changes to the Program with respect to premiums and terms of coverage and the terms of participation in the Program that could have an impact on its sustainability, before such changes are submitted for consideration by the Vice President for Finance and Administration and the President of the Bank.

4.2 Meet at least twice a year to receive a report on operational and financial matters concerning the Program and provide comments to the Committee Chairperson.

4.3 Receive reports periodically on the performance of the Program, both from the Administrators and from external consultants, as appropriate, and provide comments and recommendations to the Committee Chairperson.

4.4 Submit for Committee consideration and make recommendations on the matters in paragraph 4.1 above and any matter related to the performance of the Program and the actions of the Administrators that, in the opinion of two or more of its members, warrants submission to the Committee.

4.5 Prior to the contract renewal or change of Administrators of the Program, the Committee may make recommendations or give feedback to the Committee Chairperson regarding possible improvements in Program administration.

4.6 Recommend one of the Committee members to the Human Resources Manager for participation on the evaluation team for the selection or contract renewal of the Administrator of the Program, following the guidelines set in the respective policies.

4.7 The Committee shall not be involved in ongoing Program administration or the management of individual cases.

4.8 The Staff Association and the Retiree Association shall each maintain their regular channels of communication with Management for Program-related matters specific to their members.

5.  Quorum

5.1. Quorum for a meeting shall be the Chairperson and four (4) Committee Members.

6.  Committee Agenda

6.1. The agenda of Committee meetings shall be set by the Committee Chairperson and circulated to members at least two weeks in advance of the meeting date, including supporting documents, as appropriate.

7.  Meetings and Minutes

7.1 The Chairperson may convene Committee meetings and provide documentation to Committee Members both for consideration and for information without calling a meeting, as deemed appropriate by the Chairperson. Committee Members may send their comments and recommendations in the same manner, which will be recorded in the corresponding minutes, in accordance with point 7.3.

7.2 The Committee Secretary shall prepare the minutes of meetings under the direction of the Chairperson. The minutes shall be reviewed by the Committee Members, approved by the Chairperson, and stored in a repository accessible to the Committee members.

7.3 Minutes shall record the Committee’s recommendations or other conclusions but shall not include the details of its deliberations. Minutes may take note of fundamental differences in views within the Committee, as determined by the As an advisory document for a deliberative matter, minutes of meetings shall be confidential.

7.4 Committee Members shall respect the confidentiality of matters considered by the Committee, as provided by Bank policy.

Original Language: English, in the event of discrepancy the English version will prevail.

Note: On November 2019 this regulation was reclassified from previous number OR-404, Review Committee of the Life and Medical Insurance Programs.