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A Resolution Approving the 2026 Employee Health, Dental, Vision, Life, Accidental Death and Dismemberment, Accident, ad Critical Illness Insurance Providers' Plan Designs and Premiums and Authorizing Their Execution
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Introduction
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This is an annual agenda item to approve various contract providers for the 2026 Employee Health, Dental, Vision, Life and Accidental Death and Dismemberment Insurance, Voluntary Worksite Benefits (Critical Illness and Accident), and Excess Loss Insurance with Blue Cross Blue Shield.
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Recommended Action
Adopt the Resolution
Prior Board Action
The Board has taken the following prior action(s):
* The Board adopted the health insurance renewal for 2025 on October 22, 2024.
* The Board adopted the health insurance renewal for 2024 on October 16, 2023
* The Board adopted the health insurance renewal for 2023 on October 17, 2022
Background
This is an annual agenda item to approve various contract providers for the Village's health insurance program, which includes Health, Dental, Vision, Life, and Accidental Death and Dismemberment (AD&D) Insurance, Voluntary Worksite Benefits including Critical Illness and Accident, and Excess Loss coverage with Blue Cross Blue Shield (BCBS) of Illinois.
The proposed 2026 Employee Benefit plan includes the following:
Health Insurance, including Prescription Drug Coverage through Blue Cross Blue Shield of Illinois: (See Exhibit A for premiums)
Renewal projections from BCBS are based on a two (2) year look back at Village healthcare claims from August 1, 2023, through July 31, 2025. Claims analysis and excess loss utilization, both for the Village organization, in addition to general volatility in the healthcare market at large, drove a large premium rate increase for the 2026 plan year. Preliminary projections with no changes to plan design or employer contributions were projected to increase total plan expenses by approximately 14.5% in 2026. For t...
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