August 27, 2007 - Regular Meeting
Agenda Item #40
Title
Approval of Increased Health Insurance Premiums
Description
The School District has a self-insured Health Insurance Fund that is used to pay medical and prescription claims. The Health Insurance Fund currently has a deficit that must be eliminated through an increase in premiums. The employee share of the premiums will increase 5% and the Board share of all premiums will increase 15%. The amount of the premium increase has been agreed to by all collective bargaining units and is shown in the attachment. The increase in employee premiums will take effect on September 10, 2007. The increase in the retiree and Board share of premiums will be effective January 1, 2008.
Employee health insurance premiums will increase according to the rates described in the attached document effective September 10, 2007, and the retiree and Board share premiums effective January 1, 2008.
The Superintendent recommends approval of increased health insurance premiums.
Recommendation
Motion and approval of increased health insurance premiums.
Financial Impact
The fiscal impact is $1,750,000.00.
Contact
Risk Management
FB/mc
08/27/07
Attachment: Sept 07 Proposed Premium Increases - 082707 Board Mtg 3.xls.pdf
Attachment: Proposed Premium Increases - 082707 Board Mtg 3.xls.pdf
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