2024-07-02 VII. C. Ex 6 • • MIN! ITT` pii
Exhibit 6`.I-k4-,.l V//. C.
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. y, MEMORANDUM
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TO: Mayor Watford & City Council DATE: June 27, 2024
FROM: Administrator Ritter SUBJECT: PRM Group Health Insurance
HR Generalist Prince
Finance Director Riedel
The City's current premium structure for FY 2023-24:
Monthly Cost to City Bi-Weekly Deduction
Current PPO Plan 0727 Premium per Employee Employee Paid
Employee Only $ 1,089.27 $ 1,089.27 $ -
Additional for Spouse $ 1,630.13 $ 150.00 $ 683.13
Additional for Child(ren) $ 1,085.23 $ 150.00 $ 431.64
Additional for Family $ 2,379.38 $ 150.00 $ 1,028.89
Monthly Cost to City Bi-Weekly Deduction
Current HSA 5810/5181 Premium per Employee Employee Paid
Employee Only $ 942.42 $ 1,089.27 $ -
Additional for Spouse $ 1,410.49 $ 150.00 $ 581.76
Additional for Child(ren) $ 938.91 $ 150.00 $ 364.57
Additional for Family $ 2,058.77 $ 150.00 $ 880.97
*Note: The City currently contributes the $146.85 difference between the premium for the PPO plan
and NSA plan, making the total cost to the city$1,089.27 per employee.
The PRM renewal rate is an increase of 0.9%, bringing the monthly premium per employee per
month to a maximum of $1099.07. Financial impact to the City to continue to offer employee only
health insurance at no cost to the employee would be $6350.40, at the current number of insured
employees, for FY 2024-25.
We are proposing to add HSA 05172/05173, with lower premiums, to provide flexibility for
employees who may wish to add dependent health care. ( aq p
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The proposed premium structure for FY 2024-25:
Current PPO Plan 03769
(Former 0727) Premium
Employee Only $ 1,099.07
Additional for Spouse $ 1,644.80
Additional for Child(ren) $ 1,095.00
Additional for Family $ 2,400.79
Amount Remaining to
Current HSA 5810/5181 Premium Contribute to HSA
Employee Only $ 950.90 $ 148.17
Additional for Spouse $ 1,423.18 $ -
Additional for Child(ren) $ 947.36 $ -
Additional for Family $ 2,077.30 $ -
Amount Remaining to
Additional HSA 05172/05173 Premium Contribute to HSA
Employee Onix $ 766.07 $ 333.00
Additional for Spouse $ 1,146.43 $ -
Additional for Child(em) $ 763.15 $ -
Additional for Family $ 1,673.33 $ -