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Health-insurance quotes show $40,000 increase; trustees to offer alternate plan with lower increase
Summary
Treasurer Mindy Olson told trustees that renewing the Village's current health plan would raise costs by about $40,000; staff will offer employees an alternate plan with a roughly 5% increase covered by the Village while employees choosing the richer plan would pay the difference.
Treasurer Mindy Olson reported to trustees that health-insurance renewal quotes indicate an approximate $40,000 increase to retain current coverage levels for employees. Olson said staff negotiated with the insurance carrier and Blue Cross/Blue Shield presented an option that would limit the employer cost increase to about 5% if employees accept a different plan design. The village will pay for that lower-cost plan; employees who wish to keep the richer existing coverage would be required to pay the premium difference.
Olson described the change as the most realistic option available within the current budget and said staff will present plan details and enrollment choices in a future meeting so employees can decide whether to remain on the current plan at employee expense or move to the employer-paid alternate plan.
Provenance: topicintro SEG 008, topfinish SEG 008
