5.2. ERMUSR 10-21-2014 - Laserfiche WebLink

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savings. This would also allow for the change in deductible to be mitigated. The break down for annual HSA employer contributions recommended by the W &BC were: $1,985 for family and single plus one; and $650 for single. The W &BC felt that after this second year of the HSA employer contribution incentive, a full evaluation of the premiums should be conducted and the level of the employer contribution going forward should be evaluated. Dental, Life, and Long Term Disability Insurance Renewal The renewal information for dental, life, and long term disability were not received by ERMU until after the W &BC meeting. Due to scheduling, it was not possible to review this information with the Committee prior to the Commission meeting. But because this would be information typically evaluated by the Committee it is being included with this update. The renewal costs are minimal for 2015, a total of $5,007.88. Life and AD &D increased 4.24% or $271.32; Long Term Disability increased 11.94% or $1,886.04; and Dental increased 5.9% or $2,850.48. Because of renewal deadlines management recommends Commission approval of the renewal; however, management recommends going out for bids in 2015. Direct Deposit Also not discussed with the W &BC due to a scheduling conflict was proposed payroll direct deposit mandatory migration. With the software conversion complete for the Accounting and Business Solutions (ABS) module of our software conversion process, staff has found that there is a significant administrative burden to process physical checks for payroll. There are currently three individuals receiving physical payroll checks including one Commissioner. A few years ago the City migrated to direct deposit eliminating physical payroll checks. Management believes with the changed processes of the new ABS system that create administrable burden to processing physical payroll checks, now is the time for ERMU to also eliminate a physical payroll check option. This has been done by the military, social security, and other governmental entities. ACTION REQUESTED: The W &BC recommends the Commission approve an increase in 2015 HSA insurance plan employer contributions to $1,985 for family and single plus one, and increase to $650 for single, and to conduct a full evaluation of premium savings and employer contributions for the future. Management recommends the Commission approve the 2015 dental, life, and long term disability Insurance renewal. Management recommends the Commission approve the elimination of physical payroll checks effective January 1, 2015. ATTACHMENT: 2015 Dental, Life, and Long Term Disability Insurance Renewal Rates 62 PI1EIEI 11 Page 2 of 2 INATUR Reliable Public Power Provider P OWE 0. E D T O S E R V E 62