Butte Silver Bow announces health plan updates and significant cost savings for 2025

Butte-Silver Bow employees will see significant changes to their health insurance plans following a recent Committee of the Whole meeting. The city has approved a new stop-loss insurance provider, HMIG, which is expected to save the plan over $160,000 due to a competitive rate decrease of 17.1%. This transition aims to maintain stability in health benefits while minimizing costs for both the city and its employees.

For the 2025 calendar year, the IRS has updated the contribution limits for Health Savings Accounts (HSAs). Individuals with self-only coverage can now contribute up to $4,300, while those with family coverage can contribute up to $8,550. Additionally, the deductible for the middle-tier health plan will increase from $3,200 to $3,300, aligning with IRS guidelines.

The city will continue to offer three health plan designs: a traditional plan with a $1,000 deductible, a high-deductible plan with a $3,300 deductible, and another high-deductible plan with a $5,000 deductible. Premium increases for these plans will be modest, ranging from 2% to a decrease of 4.6% for some tiers. Notably, the employee-only tier will see a decrease in costs, making it more attractive for employees who may have coverage elsewhere.

In addition to these changes, the city is introducing new telemedicine and concierge services through MD Live and Rightway, respectively. These services aim to enhance employee access to healthcare and simplify navigation through the healthcare system. The new telemedicine service will provide 24/7 access to licensed healthcare professionals, while the concierge service will assist employees with healthcare-related inquiries and appointment scheduling.

Open enrollment for the new plans will take place from May 12 to May 23, 2025, with informational meetings scheduled for early May. Employees are encouraged to participate actively in the enrollment process to ensure they select the best options for their healthcare needs. Overall, these updates reflect Butte-Silver Bow's commitment to providing comprehensive and affordable health benefits to its workforce.