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Wahpeton council approves Wellmark Option 3000 for health coverage; leaves insurance reserve in place
Summary
On Nov. 10 the Wahpeton City Council voted unanimously to move employee health coverage to Wellmark Option 3000 while keeping existing dental and vision plans and decided not to transfer Insurance Claim Reserve funds into a flexible CD after reviewing local bank offers.
The Wahpeton City Council voted Nov. 10 to adopt Wellmark Option 3000 for the city’s health-insurance plan while keeping the current dental and vision coverage.
The motion to proceed with Wellmark Option 3000 was made by Councilmember Tom Rierson and seconded by Councilmember Brad Jones; councilmembers voted unanimously to approve the change. Carrie Funk, City Clerk/Administrator, reported the recommendation and related options.
Funk also told the council she had contacted three local banks about flexible certificate-of-deposit options for the city’s Insurance Claim Reserve. United Community Bank offered a 33-month CD at 3.33% with a one-time $50,000 withdrawal allowed if $100,000 is invested; Northwest Bank offered an 11-month CD at 3.02% with withdrawals in $1,000 increments every seven days; Farmers Savings Bank did not offer a flexible-CD option. Funk said the on-account rate currently holding the reserve is 3.84%.
After hearing those terms, the council agreed to leave the Insurance Claim Reserve where it is rather than move funds into a CD. No individual council votes against the decisions were recorded.
The council’s personnel and benefits action was recorded as a routine agenda item; no public comment was recorded on the insurance change.
