Broken Arrow City Council
Meeting of: June 17, 2024
Title:
title
Approval of premium changes for the Employee Health Care Plan for Employees of the City of Broken Arrow, effective July 1, 2024
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Background:
The Employee Health Care Plan is maintained for the purpose of providing medical benefits for Eligible Employees, Eligible Retirees, and their Eligible Dependents. A thorough review of claim costs and claim projections have been reviewed by our Insurance Broker, staff, and the Insurance Advisory Committee (the parties).
The parties are recommending a 12% increase to premiums for both employer contributions and employee contributions for the medical plan and align rates accordingly to ensure the family premiums are distributed at 17.3% as required by union contract for both the medical and dental plans.
Staff and the Insurance Advisory Committee recommend executing the increased premium rates for the Employee Health Care Plan for Employees of the City of Broken Arrow with the attached changes to be effective July 1, 2024.
Cost: Approximate estimated increase by the City $1,075,000 (varies by employee count and coverage tier and wellness/non-wellness election)
Funding Source: Group Health and Life Operational Budget Fund 661
Requested By: Kelly Cox
Approved By: City Manager’s Office
Attachments: Contribution Proposed Change 070124
Recommendation:
recommend
Approve the premium changes for the Employee Health Care Plan for Employees of the City of Broken Arrow to be effective July 1, 2024
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