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Lowell to request GIC claims data, consider RFP as health insurance costs rise
Summary
City staff told the finance subcommittee rising Group Insurance Commission (GIC) premiums are driving health costs (city-side premiums about $60 million) and said they will request claims data and consider an RFP with the PEC to test alternatives.
Connor Baldwin said Lowell participates in the Group Insurance Commission and that the city-side premiums shown on staff charts are roughly $60,000,000. He told the subcommittee GIC cost drivers have pushed rates to levels that may be unsustainable for many GIC communities.
Baldwin said the next step is to request claims data from the GIC, which would allow the city to issue a request for proposals (RFP) and test the market in coordination with the Public Employee Committee (PEC). He cautioned that an RFP would not commit the city to change carriers but would help determine whether alternatives could provide budget relief.
