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Budget board approves 3% premium increases for employers, employees and retirees; weighs $1.4M transfer to benefits
Summary
Oklahoma County Budget Board voted to raise employer and employee health premiums by 3% (employer retro to July 1; employee effective Jan. 1) and later extended the same 3% increase to retiree premiums; the board discussed a supplemental transfer of roughly $1,396,775 into employee benefits to shore up reserves.
After reviewing benefit projections and employer‑premium revenue, the Oklahoma County Budget Board debated whether raising insurance premiums could reduce the supplemental cash transfer the county must make into benefits. Speakers and staff presented modeling showing a 3% increase to employer premiums (general fund and jail) and a 3% increase to employee premiums would generate additional revenue estimated in the low six figures for the general fund and more when special revenues…
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