On the Board agenda tonight is an item that was also discussed at the Benefits Committee Meeting last week.
Discussion of and Consider Approval of 2014-2015 Health, Drug, and Dental Employee Premium Share (90/10) with the Adjusted 6.8% Increase.
Our insurance consultants are advising an increase to premiums of 6.8% The Board will be discussing this increase this evening. The increase to employees is anywhere from around $2.00 to $9.00 depending on your insurance plan. The estimated total increase to the health insurance premiums to cover claims, stop loss fees, and administrative fees based on the recommended 6.8% increase is about $860,000. 10% of the increase would be shared by the participating employees for an estimated total shared contribution increase of about $86,000. The additional cost to the District would be about $775,000. I am recommending that your premium share remain at 10%.
These are important Board discussions. I hope you will listen in. The rising cost of healthcare is an ongoing concern to us all.