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Atoka switches insurance broker, expands employee benefits and cites roughly $278,000 in savings
Summary
The board approved a resolution to change the town's health/dental/vision insurance brokerage, adopt MetLife for life and disability coverages, increase some benefits and set employee cost-share terms; town officials said the changes lower the town's insurance costs by about $278,000.
The Board of Mayor and Aldermen approved a resolution to replace the state's insurance plan with a brokered benefits package and to adopt MetLife as the town's provider for life, accidental death and dismemberment, short-term disability and long-term disability insurance. The board said the change preserves and in some cases improves employee coverage while producing significant savings for the town.
The town administrator described the main changes: a Blue Cross Blue Shield PPO option and a high-deductible plan, dental and vision plans, an increase in employer-provided life insurance from $25,000 to $50,000, employer-paid short- and long-term disability and an updated flexible spending account (FSA) with a rollover provision that will allow approximately $660 to carry over year-to-year. The resolution sets an employee cost share for health insurance at 15% of the monthly premium and anticipated an effective start date of April 1, 2025.
Mayor Barry Aiken told the public the board expects the switch to save the town “north of $200,000”; the town administrator later cited a figure of about $278,000 in savings. The board approved the resolution by roll-call vote; all members present voted in favor.
Staff plans employee informational meetings for March 13 and 14 with benefit representatives on hand.
Provenance: Town administrator introduced the resolution at the employee-benefits agenda item; the board approved the resolution by roll-call vote.
