FY 24 Health Insurance UpdateHealth Insurance Update
Highlights
➢The Health Committee
met on May 15th to
review claims data to
start working on
possible renewal rates
➢Expected rates have
increase on average by
14.52% from the prior
year
Health Insurance Renewal
Highlights
➢Make the family plan more
affordable
➢Structure rates to
encourage a migration to
the high deductible plan
➢Increase HSA contribution
from $800 to $1,000 per
employee per year
Goals for the New Plan Year
Proposed Health Rates
TYPE OF COVERAGE MONTHLY PREMIUM MONTHLY INCREASE MONTHLY INC/(DEC)
KeyCare 30
$30 Copay/$1000 Deductible
Employee Only 842.78 739.77 79.22 103.00 31.97
Employee and One Child 1,310.97 835.88 127.36 475.08 43.19
Employee and Spouse 1,902.82 858.59 150.66 1,044.24 94.93
Employee and Family 2,591.82 1,067.04 332.95 1,524.78 -
Medicare Carve Out 842.78
HDHP w/Health Saving Account
$3,000/100%
Employee Only 695.91 679.28 89.24 16.62 3.33
Employee and One Child 1,085.68 796.82 115.73 288.86 26.26
Employee and Spouse 1,578.42 853.16 169.92 725.26 34.54
Employee and Family 2,152.01 1,081.19 377.19 1,070.82 (100.00)
Medicare Carve Out N/A
The Board of Supervisors agreed to pay a total of $34.17/month/per employee from the Employee Health
Fund. They also agreed to pay an employer contribution of $1,000.00 per covered employee participating
in the Lumenos (HDHP) ~ Health Savings Account (HSA).
ANTHEM BLUE CROSS BLUE SHIELD
OCTOBER 1, 2023 (PAYROLL DEDUCTION BEGINS IN SEPTEMBER)
PREMIUMS
EMPLOYEE COST
COUNTY SHARE
Highlights
➢Estimated cost is
approximately $300,000
➢Carryover funds will be
used to cover the
increased cost
Fiscal Impacts
➢Tonight-Board approval will be needed to accept the new
proposed premium breakdown and increased HSA contribution
from $800 to $1,000 per employee per year
➢August 1, 2023-Open Enrollment begins
➢September 15, 2023-New deductions begin
➢September 20, 2023-Carryover Funds will be approved
Next Steps