Submitted By
Kira Tchang, Assistant Village Manager/HR Director
Reviewed By
LKS
Agenda Item Title
Title
A Resolution Approving the 2021 Employee Health, Dental, Vision, Life, Accidental Death and Dismemberment, Accident, Critical Illness, Hospital and Prepaid Legal Insurance Providers' Plan Designs and Premiums and Authorizing Their Execution
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Overview
Overview
This is an annual agenda item to approve various contract providers for the 2021 Employee Health, Dental, Vision, Life and Accidental Death and Dismemberment Insurance, Voluntary Worksite Benefits (Critical Illness, Accident, Hospital Indemnity, Prepaid Legal) and COBRA administration with Blue Cross Blue Shield (BCBS).
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Recommendation
Recommendation
Approve the Resolution.
Fiscal Impact
The proposed 2021 Employee Benefit plan includes:
Health Insurance with Blue Cross Blue Shield of Illinois: (see Exhibit A for premiums)
1) Maintaining current employee premiums. 0% increase
2) Increasing deductible from $150 (individual) and $300 (family) to $250 (individual) and $500 (family) for PPO
3) Increasing the maximum Out of Pocket from $1000 (individual) and $1800 (family) to $1400 (individual) and $2400 (family)
4) Increasing ER co-pay (for non-admitted) from $150 to $200
5) Maintaining status quo for office visits and RX co-pays.
6) Hearing Aid Coverage expanded pursuant to state law.
Renewal projections from BCBS are based on a two (2) year look back at Village health care expenses from June 1, 2018 through May 1, 2020. Preliminary projections with no changes to plan design were estimated to increase total plan expenses by approximately 1% in 2021. This is following several years of downward trend. Given the current fiscal uncertainty facing the Village and the likely deferral of elective healthcare procedures in 2020 due to the COVID-19 pandemic, the Village instituted several small plan design changes which reduced initial plan expenses from 1% and allowed the Village to maintain the...
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