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Price staff outline health-insurance and workers' comp costs; open enrollment, high-deductible plan likely to become default
Summary
City finance staff briefed the council on employee health-insurance open enrollment, a likely shift toward a high-deductible plan, and a raised workers' compensation experience modifier that will increase premiums and the budgetary request.
City finance staff told the council that open enrollment for employee health benefits will begin later in the month and that current estimates show a notable increase in overall insurance costs for the coming fiscal year.
Staff said the city will run open enrollment, then report back with final participation numbers and a precise budget figure. In preliminary budget modeling, staff estimated roughly $1.56 million for medical insurance and said the city faces an increase of about $90,000 compared with the prior year based on current enrollment…
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