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Insurance broker recommends high-deductible HSA option and telehealth to lower costs
Summary
HUB International broker Bill Phelps presented medical plan options and recommended continuing the current plan while adding a high-deductible HSA plan and promoting telehealth to reduce premiums and overall healthcare spending for the city and employees.
Bill Phelps, an insurance broker with HUB International, presented several medical plan options and recommended the city continue offering its current medical plan while also offering a high-deductible HSA plan. He advised that the city and employees could benefit from substantially lower premiums under an HSA plan and that the city consider returning premium savings to employees to seed their HSA accounts. Mr. Phelps also emphasized telehealth benefits as a low-cost alternative that can reduce overall healthcare spending by encouraging employees to use telehealth instead of more expensive in-person visits.
Council discussion did not record a formal decision to change benefits at the May 12 meeting. The presentation provided options for staff to evaluate; any changes would follow required personnel and benefits processes and likely include further cost comparisons and enrollment timelines.
