ITEM TITLE:
Annual Renewal of City/School Health Insurance Benefit Plan for Period Beginning 4/1/2022
SUBMITTED BY: Rhea E Cragun, Human Resource Director
FISCAL NOTES:
Expenditure Required: $2.69MM (City, April-December, 2022)
Unencumbered Balance: $3.3MM
Funding Source: Cost code 41300, pro-rated among all staffed departments
RECOMMENDATION:
Approve
SUMMARY STATEMENT:
• This agenda item formalizes the annual renewal of the health insurance benefit plan.
• The School has separately reviewed and approved their plan renewal specifications.
• Renewal Premium Change:
§ City: +1%; total monthly $2347.23 to $2371.25; $24.02 increase
o Employer monthly: $2234.56 to $2257.06; $22.49 increase
o Employee monthly: $93.11 to $94.04; $0.94 increase
§ School: +6.2%
• Plan Changes:
§ Stop loss rates renewed with no change to premium
§ Medical Travel benefits modified to include mileage reimbursement if the patient chooses to drive instead of fly.
o Estimated cost: $10,000 annually
§ Dental benefits modified to include dental implants.
o Estimated cost: $6,000 annually
Staff will provide Council with a follow-up plan review in the fall, emphasizing fund balance as a measure of plan solvency, and recommending changes in conjunction with Broker, ERT and Stakeholder