HomeMy WebLinkAboutDocumentation_Regular_Tab 16_8/10/2023Agenda Item #16.
Regular Council
STAFF MEMO
Meeting: Regular Council - Aug 10 2023
Staff Contact: Merlene Reid, Director, HR & Risk Department: HR
Management
EDOW
Consider Approval of Health, Dental and Life Insurance 2023/24 Renewals
.-
For the second year in a row, the Village's Benefits committee requested the brokers to shop the
market for the best value for money and benefits in respect of the health insurance plan. Only Florida
Blue and the current carrier, Florida Municipal Insurance Trust/United Health Care responded, with
the former submitting a 41 % increase for a matching plan. FMIT/UHC returned a 6.3% increase or a
total of $114,158.64 to retain the current plan. The committee unanimously agreed to recommend
that the Village's health insurance be renewed with the current carrier, effective 10/1/2023. There are
no changes to the Group life insurance premiums and the Employee Assistance Program, however
Dental coverage increased by 5% or a total of $3,910.08.
The Village does not contribute to the vision insurance which is fully financed by the employee.
This document and any attachments may be reproduced upon request in an alternative format by
completing our Accessibility Feedback Form, sending an e-mail to the Village Clerk or calling 561-768-
0443.
BUDGET AMOUNT Refer to AMOUNT AVAILABLE Refer EXPENDITURE AMOUNT: N/A
Cost Summary to above memo
FUNDING SOURCES: Refer to above memo IS THIS A PIGGYBACK:
❑ Yes ❑x N/A
DID YOU OBTAIN 3 QUOTES?
❑ Yes ❑x N/A
COMMENTS/EXPLANATION ON SELECTIONRefer to above memo
Page 237 of 250
Agenda Item #16.
The 2023/24 health insurance be renewed with FMIT/UHC, the dental and life insurance renewed with
The Standard, and the Employee Assistance Program with New Directions, as outlined in the Benefits
Executive Cost Summary.
VOT Ins - 2023-2024 Executive Summary ADA
Page 238 of 250
fag [t" qqe esta
Proposed Estimated Employee Benefits Executive Cost Summary
Effective Date: October 1, 2023
, GEHRING GROUP
`5 r_ A RISK STRATEGIES COMPANY
COVERAGE
CURRENT
RENEWAL 2023-2024
PPO Plan
Total
Employer
Employee
Total
Employer
Employee
Employee
45
$833.36
$833.36
$0.00
45
$885.86
$885.86
$0.00
EE+Spouse
7
$1,791.70
$1,552.12
$239.58
7
$1,904.58
$1,649.90
$254.68
EE+Child(ren)
14
$1,541.70
$1,364.62
$177.08
14
$1,638.83
$1,450.59
$188.24
EE+Family
29
$2,500.05
$2,083.38
$416.67
29
$2,657.55
$2,214.63
$442.92
MONTHLY PREMIUM
95
$144,128.35
$127,888.74
$16,239.61
95
$153,208.33
$135,945.53
$17,262.80
ANNUAL PREMIUM
$1,729,540.20
$1,534,664.88
$194,875.32
$1,838,499.96
$1,631,346.36
$207,153.60
HDHP
Total
Employer
Employee
Total
Employer
Employee
Employee
4
$751.56
$751.56
$0.00
4
$798.91
$798.91
$0.00
EE+Spouse
1
$1,615.86
$1,399.79
$216.07
1
$1,717.66
$1,487.97
$229.69
EE+Child(ren)
0
$1,390.39
$1,230.68
$159.71
0
$1,477.98
$1,308.21
$169.77
EE+Family
1
$2,254.68
$1,878.90
$375.78
1
$2,396.72
$1,997.27
$399.45
MONTHLY PREMIUM
6
$6,876.78
$6,284.93
$591.85
6
$7,310.02
$6,680.88
$629.14
ANNUAL PREMIUM
$82,521.36
$75,419.16
$7,102.20
$87,720.24
$80,170.56
$7,549.68
$ INCREASE
N/A
N/A
N/A
$5,198.88
$4,751.40
$447.48
INCREASE
N/A
N/A
N/A
6.3%
6.3%
6.3%
ALL MEDICAL PLANS
Total
Employee
Total
Employer
Employee
TOTAL MONTHLY PREMIUM
101
$151,005.13
$134,173.67
$16,831.46
101
$160,518.35
$142,626.41
$17,891.94
TOTAL ANNUAL PREMIUM
$1,812,061.56
$1,610,084.04
$201,977.52
$1,926,220.20
$1,711,516.92
$214,703.28
$ INCREASE
N/A
N/A
N/A
$114,158.64
$101,432.88
$12,725.76
% INCREASE
N/A
N/A
6.3%
6.3%
6.3%
StandardDENTAL The
.. .
DENTAL PPO
Total
Employer
Employee
Total
Employer
Employee
Employee
57
$30.60
$30.60
$0.00
57
$32.12
$32.12
$0.00
EE+Family
46
$103.68
$30.60
$73.08
46
$108.88
$32.12
$76.76
MONTHLY PREMIUM
103
$6,513.48
$3,151.80
$3,361.68
103
$6,839.32
$3,308.36
$3,530.96
ANNUAL PREMIUM
$78,161.76
$37,821.60
$40,340.16
$82,071.84
$39,700.32
$42,371.52
$ INCREASE
N/A
N/A
N/A
$3,910.08
$1,878.72
$2,031.36
% INCREASE
N/A
N/A
N/A
5.0%
5.0%
5.0%
VISION..
Standard
VISION
Total
Employer
Employee
Total
Employer
Employee
Employee
41
$5.44
$0.00
$5.44
41
$5.44
$0.00
$5.44
EE+Spouse
5
$10.56
$0.00
$10.56
5
$10.56
$0.00
$10.56
EE+Child(ren)
8
$9.76
$0.00
$9.76
8
$9.76
$0.00
$9.76
EE+Family
14
$14.84
$0.00
$14.84
14
$14.84
$0.00
$14.84
MONTHLY PREMIUM
68
$561.68
$0.00
$561.68
68
$561.68
$0.00
$561.68
ANNUAL PREMIUM
$6,740.16
$0.00
$6,740.16
$6,740.16
$0.00
$6,740.16
$ INCREASE
N/A
N/A
N/A
$0.00
$0.00
$0.00
% INCREASE
N/A
N/A
N/A
0.0%
0.0%
0.0%
Page 239 of 250
i
fag [t" q e esta
Proposed Estimated Employee Benefits Executive Cost Summary
Effective Date: October 1, 2023
, GEHRING GROUP
`5 r_ A RISK STRATEGIES COMPANY
COVERAGE I CURRENT
Bask Life
Total
Employer
Employee
Life Rate
$0.139
$0.139
$0.00
AD&D Rate
$0.020
$0.020
$0.00
Life Volume
$12,099,950
$12,099,950
$12,099,950
AD&D Volume
$10,764,950
$10,764,950
$10,764,950
MONTHLY PREMIUM
$1,897.19
$1,897.19
$0.00
ANNUAL PREMIUM
$22,766.30
$22,766.30
$0.00
$INCREASE
N/A
N/A
N/A
%INCREASE
N/A
N/A
N/A
EAP
Total
Employer
Employee
EAP Rate
97
$2.77
$2.77
$0.00
MONTHLY PREMIUM
$268.69
$268.69
$0.00
ANNUAL PREMIUM
$3,224.28
$3,224.28
$0.00
$INCREASE
N/A
N/A
N/A
%INCREASE
N/A
N/A
N/A
TOTAL ANNUAL PREMIUM $1,922,954.06 $1,673,896.22 $249,057.84
$INCREASE N/A N/A N/A
%INCREASE N/A N/A N/A
RENEWAL 2023-2024
Total
Employer
Employee
$0.139
$0.139
$0.00
$0.020
$0.020
$0.00
$12,099,950
$12,099,950
$12,099,950
$10,764,950
$10,764,950
$10,764,950
$1,897.19
$1,897.19
$0.00
$22,766.30
$22,766.30
$0.00
$0.00
$0.00
$0.00
0.0%
0.0%
0.0%
New Directions
Total
Employer
Employee
$2.77
$2.77
$0.00
$268.69
$268.69
$0.00
$3,224.28
$3,224.28
$0.00
$0.00
$0.00
$0.00
0.0%
0.0%
0.0%
$2,041,022.78 $1,777,207.82 $263,814.96
$118,068.72 $103,311.60 $14,757.12
6.1% 6.2% 5.9%
Page 240 of 250
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