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Request for Action <br />To Item Number <br />Ma Tor and Ci T Council 4.9 <br />Agenda Section Meeting Date Prepared by <br />Consent Agenda September 18, 2023 Lauren Wipper, Human Resources Manager <br />Item Description Reviewed by <br />2024 Fle�ble Benefits Plan Cal PoYtneY, Ci = Adrninistrator <br />Reviewed by <br />Action Requested <br />Approve, by motion, the 2024 Fle�ble Benefits Plan design. <br />Background/Discussion <br />We had a tough �rear with high medical claims and our claims experience called for more than 30% rate increase. <br />Fortunately, we had a 9% rate cap on our premium renewal with HealthPartners through The Better Health <br />Collective. We are staying with the same plans offered last year but because theyT are all Health Savings Account <br />(HSA) compatible plans, the deductible amounts are increasing slightly. (This is a requirement of the IRS.) We <br />��eYe given a 15% Yate cap foY ouY 2025 Yenewal. <br />Delta Dental has given us a 7.5% Yate incYease, the first-rate change since 2019. There is no change in the plan <br />design or network. We have 66 employTees taking familyT dental and 41 employTees taking single dental. <br />The other insurance plans offered though our Fle�ble Benefits Plan are short-term and long-term disabilityT and <br />additional life insurance. We have not received rate information on these plans yTet. We also offer health care <br />savings accounts and health and dependent care fle�ble benefits accounts which employTees can contribute to `vith <br />remaining funds from the cinT's contribution or through payTroll deduction on a pre-tax basis. <br />We determine the cityr's contribution to Fle�ble Benefits Plans from the allocated budget based on the last known <br />enrollment. Enrollment is subject to change at open enrollment and throughout the year for new hires, <br />terminations, and qualified changes. The plan's design provides a dollar amount to each employTee based on the <br />family level of inedical coverage they elect. Again, this year we feel very fortunate to be able to offer the two <br />$3,200 High Deductible Health Plans with cityT contribution funds left over to allocate to other coverage offered <br />through the plan. Although lower than the previous two years, we are also able to provide an HSA contribution to <br />the accounts of employ ees who contribute to an HSA. <br />Financial Impact <br />Funds foY the 2024 Fle�ble Benefits Plan aYe included in the 2024 pYel.irnivaryr budget. <br />Mission/Policy/Goal <br />The Elk River Mission <br />Attachments <br />■ 2024 Fle�ble Benefits Plan Renewal Spreadsheet <br />The Elk River Vision <br />A 2a�elcolning co�nlnunity 2a�ith T evolutiona� y and spizzted T esou� cefulness, exceptional <br />se�vice, and coln�nunity engagelnent that encou�ages and ins�iz•es pTo�pe�zty. <br />rowEREo ar <br />�I'1 ���� <br />Update�l• January 2023 <br />