Agenda Item Name:
Title
Health Insurance Fund FY22 Premiums
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Presenter:
John Carnell, 352-264-6967
Description:
This is the annual submittal of Health Insurance Premium Recommendations of SIRC.
Motion to adopt a 1.5% increase, with a review of the reserve balance in October at the next SIRC Meeting to see if it’s still a good decision and if a non-deduction date is still possible.
Recommended Action:
Recommended Action
Approve the recommendations of the Self Insurance Review Committee which includes a 1.5% increase in premiums for the employee and employer and to consider an additional premium free paycheck for employees in December.
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Prior Board Motions:
Board has approved SIRC recommendation in the past
Fiscal Consideration:
Fiscal Consideration
The recommended premium increase is estimated to provide a closing surplus in FY22 of $17,903,119 and a closing surplus in FY23 of $16,536,979. This exceeds the 120 day recommended surplus of $10,434,348.
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Background:
N/A