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Prior Lake-Savage board approves benefit-rate changes, keeps Voya and Delta Dental
Summary
The Prior Lake-Savage Area Schools Board approved recommended benefit administration and premium changes — keeping Voya for life/disability plans and Delta Dental for dental — and adopted a 5% health-rate increase and tiered dental increases for retirees.
The Prior Lake-Savage Area Schools Board of Education voted unanimously to approve recommended changes to employee benefits and premiums, including keeping Voya for long-term disability and group/supplemental life coverage and Delta Dental for dental insurance, and a 5% increase to health insurance rates.
The board approved the package after the insurance committee reviewed the proposals on March 10. Director McCune, who presented the recommendations, told the board the changes are intended to respond to claims-cost increases while maintaining a healthy fund balance for the district’s benefits program.
Director McCune said, “First, we're recommending staying with Voya for our long term disability group life and supplemental life, and staying with, Delta Dental for our dental insurance. For health insurance, we're recommending a 5% rate increase, which would adjust for the increases in claims along with, maintaining our fund balance at the top of our our healthy balance premium there. And then for the dental rates, for the active employees, a 5% increase, with a 10% increase for the retirees of, 65 plus, bracket.”
Director Atkinson moved to approve the recommended premium changes; Director Bullion seconded. The motion passed 7-0.
The action implements the recommendations the board’s insurance committee reviewed earlier in March; the district will proceed with the named vendors and the rate changes for the plan year announced by staff.
The board did not discuss additional changes to plan design or benefits at the meeting. Staff did not provide an exact dollar impact to individual employees at the time of the vote and said they would continue monitoring claims and fund balances.
