Number
231598
Reference
Sponsor
THE CHAIR
Title
Substitute resolution outlining the process and communication of 2025 health and dental insurance premium rates.
Analysis
This resolution authorizes the Department of Employee Relations (DER) to use the established annual practice for estimating health and dental plan premium rates for 2025 as determined by the City’s benefits consultant.
Body
Whereas, The DER has contracted with its benefits consultant, Gallagher Benefits Services, to provide actuarial services to the City, including projections for City health and dental plan premium rates; and
Whereas, The DER wants to ensure that health plan benefit rate projections for 2025 are as accurate as possible; and
Whereas, Gallagher Benefits Services will gather current cost and utilization data from the health and pharmacy plans to provide benefit premium rate projections based on the 2025 anticipated health plan and pharmacy benefit design structure while factoring in medical inflationary trends; and
Whereas, Gallagher Benefits Services will calculate 2025 health plan rate projections for premium tiers in all plans offered to active employees and retirees; and
Whereas, The DER wishes to communicate 2025 benefit rates to employees and retirees prior to the fall open enrollment period; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee that the DER is authorized to utilize the outlined rate determination practice and communicate the rates projected by Gallagher Benefits Services for all health and dental plans offered to active employees and health plans offered to retirees.
Requester
Department of Employee Relations
Drafter
Molly King
9/13/2024