STRATEGIC PRIORITY: Government Performance & Financial Management
AGENDA DATE: September 20, 2023
COUNCIL DISTRICT(S): All
DEPARTMENT: Department of Human Resources
EXECUTIVE: Kimberly Bizor Tolbert
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SUBJECT
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Authorize (1) approval of the proposed plan design effective January 1, 2024; and (2) approval of the proposed health coverage plans, and 5% premium rate increase for employees and Pre65 retirees and their families - Financing: Employee Benefits Funds ($134,878,640.00); Revenue: City Employee/Retiree Contributions ($72,248,197.00) (see Fiscal Information)
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BACKGROUND
The 2024 health plan overview and contribution rates were previously reviewed by City Council on August 16, 2023.
PRIOR ACTION/REVIEW (COUNCIL, BOARDS, COMMISSIONS)
On June 24, 2020, the City Council approval of the proposed plan design changes effective January 1, 2021 and approval of the proposed health coverage contribution and premium rates by Resolution No. 20-1122.
On June 24, 2021, the City Council approval of the proposed plan design changes effective December 31, 2021 and approval of the proposed health coverage contribution and premium rates by Resolution No. 21-1694.
On September 22, 2021, the City Council approval of the proposed plan design changes effective January 1, 2022 and approval of the proposed health coverage contribution and premium rates by Resolution No. 21-1694.
On September 28, 2022, the City Council approval of the proposed plan design changes effective January 1, 2023 and approval of the proposed health coverage contribution and premium rates by Resolution No. 22-1671.
FISCAL INFORMATION
Total cost based on the number of employee/retiree participants in the plan.
Employee Benefits Fund:
Employee Contributions $ 46,665,178.00
Retirees Contributions $ 25,583,019.00
City Contributions $134,878,640.00
Total Revenue $207,126,837.00
Expenditures $205,942,598