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Committee hears 12% medical, 3% dental rate increases; health-insurance reserve at $1.4M
Summary
The Finance Committee was told the city's health-insurance trust stands at about $1.4 million and that medical premiums will rise 12% and dental 3% for the coming fiscal year; the committee kept the item on its calendar and asked for a full-council update.
The Gardner City Council Finance Committee on April 16 received an update on the city’s health insurance trust and proposed plan rates for the next fiscal year. The city’s health-insurance reserve fund balance was reported as roughly $1.4 million; the Insurance Advisory Commission was notified of a proposed 12% increase for medical premiums and a 3% increase for dental premiums for employees on city plans.
The mayor told the committee that staff reviewed multiple plan offers, including proposals from the Group Insurance Commission (GIC), Blue Cross, Fallon and others, and selected…
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