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Ridgewood council approves contract to offer high-deductible health plan with reimbursement card
Summary
Facing a 36.5% jump in state premiums, Ridgewood officials approved hiring a vendor to administer a “difference card” that will cover employees’ out-of-pocket costs under an optional high-deductible plan; the village says the move should lower premiums for staff and reduce next year’s budgetary impact.
The Ridgewood Village Council on Oct. 22 approved a professional services agreement to let the village offer employees an optional high-deductible state health plan paired with an employer-funded reimbursement card. The move follows a Sept. 24 announcement from the New Jersey Division of Pensions and Benefits of a 36.5% increase in premiums for municipal members of the state plan, the village manager said.
Village Manager Keith said the council’s proposed approach would “significantly reduce our health care contributions while maintaining access to quality coverage for our employees.” Under the plan, employees may elect the…
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