Title
Employee Insurance Renewal
History
The Horton Group provided the Village with Fiscal Year 2010 renewal premium amounts for the Village’s medical and prescription drug, dental, vision, flexible spending, life/AD&D, wellness program, and consulting services for our employee insurance program. A summary renewal packet will be distributed at the Committee meeting for reference purposes.
The Horton Group analyzed and marketed each of our existing plans. Based on this research and analysis conducted by The Horton Group, we recommend renewals to continue with Blue Cross Blue Shield, Delta Dental of Illinois, VSP, Fort Dearborn Life, CHC, Allied Benefit Systems and to continue consulting services with the Horton Group. Virgin Healthy Miles is a new employee incentive program that serves as a cornerstone of our wellness initiative. In exchange, nonunion employees will continue their premium contributions by participating in an annual health screening but will pay a higher contribution if they elect not to participate. A summary of supporting information for these recommendations is provided. In addition, the employee benefit design for nonunion employees will be adjusted to a four-tier system (individual, individual plus spouse, individual plus dependents, and family), which is more consistent with industry best practices.
Mr. Michael Wojcik from the Horton Group will be present at the Finance Committee
meeting to explain the renewal process and answer any questions.
On October 12, 2009, this item was reviewed and approved by the Finance Committee and referred to the Board for approval.
Financial Impact
The attached documents identify the overall budget impact. The FY2010 budget will
include $5,120,630 to cover the ex...
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