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Granbury approves employee health plan renewal; Blue Cross Blue Shield rate drops 8.82%
Summary
Granbury's Employee Benefits Trust approved renewing medical coverage with Blue Cross Blue Shield of Texas; staff said the city's medical insurance costs will decrease by 8.82 percent, yielding an estimated $222,302 in savings.
Members of the City of Granbury Employee Benefits Trust and city council on July 1 approved the city's annual employee health insurance renewal with Blue Cross Blue Shield of Texas for the medical plan and group life coverage. Staff said the Blue Cross Blue Shield renewal results in an 8.82 percent decrease in premiums compared with the prior year, representing an estimated $222,302 in annual savings driven by improved claims experience.
Staff told council they solicited proposals from other carriers but found the Blue Cross plan offered the best combination of coverage, network access and geography for employees; broker Higginbotham assisted in the procurement. The city also will continue voluntary employee-paid dental and vision plans (employee-paid) and voluntary accident/critical illness plans with Lincoln Financial at the same premiums as the prior year. The city-paid group life, short-term disability and long-term disability plans will remain with Blue Cross with no premium increase.
Staff said the city's wellness program and annual health fair (or provider equivalent) contribute to early detection and lower utilization; employees who decline the wellness screening must pay a portion of premiums under the city incentive structure.
What's next: Benefits renewal was approved by the trust/council and staff will implement plan-year enrollments and include full-year funding in next fiscal year's budget documents. Staff said the premium decreases will reduce employee paycheck withholding amounts where employees share in premiums.
