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Insurance agent reports lower workers'comp rate; health plan premiums expected to rise
Summary
The city's insurance agent told the commission the city's workers'comp experience rating is 0.72, yielding an estimated 28% premium discount, and that negotiations with Blue Cross/Blue Shield could limit health-plan premium increases to 6.8% or possibly 4% pending underwriting.
An insurance agent updated the City Commission July 15 on employees' insurance and workers'compensation costs, saying the city's experience rating for workers'comp is 0.72 and that Florida Blue (Blue Cross/Blue Shield) has proposed a health-insurance increase the agent has, so far, negotiated down to 6.8 percent. The agent said a 0.72 experience rating means the city will pay "72 cents on the dollar" for workers'compensation for the policy year…
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