News 15 March 2019

Board ‘buys down’ insurance increase

Chickasaw County will continue to buy down an increase in employee health insurance premiums using reserve funds and some new funds, as discussed on Monday.Renewal rates from Wellmark came in at what would have been almost an 8 percent increase over the current fiscal year, just 1 percent lower than expected in January.Denise Ballard, who directs the Iowa Governmental Health Care Plan, recommended that the board continue to “underfund” its claims account in order to spend down its “overfunded” ‘partial self fund’ reserve and effect a zero percent premium increase for employees: Premiums will remain at $654.97 monthly for a single insured and $1,553.98 for a family.— For more on this story, see the March 15 New Hampton Tribune.

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