During the Franklin City Council meeting on March 3, 2025, significant discussions centered around potential savings in employee benefits and insurance costs, highlighting the city's ongoing efforts to manage expenses effectively.

The meeting began with council members expressing concerns about rising costs associated with employee contributions to benefits. One council member emphasized the need for clarity on the projected savings, specifically questioning a figure of $500,000 mentioned earlier. The discussion revealed that a quantitative savings analysis suggested potential savings exceeding $600,000 annually, primarily through adjustments in pharmacy benefits management.

A representative explained that the current pharmacy benefits manager, Anthem Carelawn, does not pass on rebates from high-cost specialty medications to the city. By switching to an independent pharmacy benefits manager, such as TrueRx or TrueScripts, the city could receive direct financial benefits from these rebates, significantly reducing overall costs.

Additionally, the council explored property casualty insurance options. A representative from a new insurance carrier, Selective, noted that the city’s renewal rates were favorable compared to market conditions, which typically see increases of 10 to 15%. The competitive pricing offered by Selective was attributed to the city's effective risk management practices.

The discussions underscored the council's commitment to exploring various avenues for cost savings while maintaining quality employee benefits. As the city navigates these financial strategies, the implications for both the budget and employee satisfaction remain critical considerations.

Looking ahead, the council will continue to evaluate these proposals and their potential impact on the city’s financial health, ensuring that any changes align with the community's needs and expectations.