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Committee hears update on city health insurance trust fund; trustees awaiting broker rates
Summary
Committee received a brief update that the city’s health insurance trust fund remains at a healthy level and staff are working with brokers on plan renewal and rates for the fiscal year.
The Finance Committee received an update on the city health insurance payments and trust fund (item 11482). Committee members were told the trust fund balance is at a healthy level and staff are working with insurance brokers to renew plans and obtain rates for the upcoming fiscal year.
A committee member reported the trust fund balance “at about 1.47” and another speaker confirmed “1.7 at the February” report; the mayor said the administration expects to have rate information available in time to include in earlier budget planning because the city moved the plan year to align with the fiscal year. The mayor and staff said they will present renewal rates around the time the FY26 budget is submitted.
The committee asked that the update remain on the Finance Committee calendar for monitoring; no formal action or budget appropriation was taken at the meeting.
