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Trustees sign off on employee insurance renewals amid significant cost increases
Summary
The board authorized renewals for employee health plans: CDPHP (about 19.48% increase with a new gold option), MVP (about 12.11% increase with an alternate lower-cost option), and Anthem Vision (no increase); trustees approved signatures for each renewal.
Village staff presented options for employee benefits renewals and the board authorized the mayor to sign the renewals. Officials said CDPHP premium costs will rise roughly 19.48% and the village will add a lower-premium gold option alongside the existing platinum plan; MVP premiums are increasing about 12.11% with an additional lower-cost option available; Anthem Vision showed no increase.
Meg told trustees the larger CDPHP increase is part of a broader trend and the additional plan is intended to offer lower premiums for employees who do not need the higher-tier plan. Trustees voted to authorize signatures for the renewals after brief discussion.
