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Committee backs higher stop‑loss level and benefit plan review for 2025
Summary
Alliant presented the 2025 employee benefits renewal showing a 19.6% medical rate increase; the committee approved raising the individual stop‑loss level to $110,000 and directed staff to pursue plan design conversations with unions and administration.
Renee Formell, Alliant Senior Vice President, presented the committee with the 2025 employee benefits renewal and a stop‑loss analysis. She laid out the proposed cost changes: medical (BCBS of Illinois) +19.6%, dental 0.0%, vision 0.0%, Life AD&D +48.8%, and FSA & dependent care -12.1%.
Formell said Alliant's stop‑loss analysis showed raising the individual stop‑loss (ISL) to $110,000 would reduce premium costs and that the village had previously adjusted stop‑loss levels in 2021. "The village would save dollars increasing the Stop Loss Level," the presentation stated. The committee voted to accept the proposal with the $110,000 ISL and forward it to the Village Board.
Co‑Administrator Lucas Rickelman suggested administration and union leaders meet to discuss offering multiple distinct medical plans rather than the current identical plan options. The committee recorded unanimous approval to proceed to the board; trustees did not take a final board vote during the Finance Committee meeting.
