STRATEGIC PRIORITY: Government Performance & Financial Management
AGENDA DATE: September 18, 2024
COUNCIL DISTRICT(S): All
DEPARTMENT: Department of Human Resources
EXECUTIVE: Jack Ireland
______________________________________________________________________
SUBJECT
Title
Authorize (1) approval of the proposed plan design effective January 1, 2025; and (2) approval of the proposed health coverage plans and 5% premium rates increase for all of the separate health benefit plans for employee, retirees, and their families - Financing: Employee Benefits Fund ($142,134,754); Revenue: City Employee/Retiree Contributions ($74,110,124) (see Fiscal Information)
Body
BACKGROUND
The 2025 health plan overview and contribution rates were previously reviewed by City Council on August 21, 2024.
PRIOR ACTION/REVIEW (COUNCIL, BOARDS, COMMISSIONS)
On June 24, 2021, the City Council approved the proposed plan design changes effective December 31, 2021 and the proposed health coverage contribution and premium rates by Resolution No. 21-1694
On September 22, 2021, the City Council approved the proposed plan design changes effective January 1, 2022 and the proposed health coverage contribution and premium rates by Resolution No. 21-1694
On September 28, 2022, the City Council approved the proposed plan design changes effective January 1, 2023 and the proposed health coverage contribution and premium rates by Resolution No. 22-1671
On September 20, 2023, the City Council approved the proposed plan design changes effective January 1, 2024 and the proposed health coverage contribution and premium rates by Resolution No. 23-2396.
The City Council was briefed on the "Health Benefits Budget Overview and Plan Design FY 2024 - 2025: on August 21, 2024.
FISCAL INFORMATION
Total cost based on the number of employee/retiree participants in the plan.
Employee Benefits Fund:
Total Revenue - $216,244,878.00
Employee Contributions - $50,357,532.00
Retiree Contributions - $23,752,592.0...
Click here for full text