powered help
header-left header-center header-right
File #: 230300    Version:
Type: Resolution Status: Passed
File created: 6/20/2023 In control: COMMON COUNCIL
On agenda: Final action: 9/19/2023
Effective date:    
Title: Substitute resolution outlining the process and communication of 2024 health and dental insurance premium rates.
Sponsors: THE CHAIR
Indexes: EMPLOYEE BENEFITS, INSURANCE BENEFITS
Attachments: 1. DER Letter, 2. 2024 Healthcare Rate Forecast, 3. 2024 GC Active Rate Chart, 4. 2024 MPA Active Rate Chart, 5. 2024 MFD Active Rate Chart, 6. 2024 MPSO Active Rate Chart, 7. 2024 Retiree Rate Chart 1, 8. 2024 Retiree Rate Chart 21, 9. Hearing Notice List

Number

230300

Sponsor

THE CHAIR

Reference

 

Title

Substitute resolution outlining the process and communication of 2024 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 2024 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 2024 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 2024 anticipated health plan and pharmacy benefit design structure while factoring in medical inflationary trends; and

 

Whereas, Gallagher Benefits Services will calculate 2024 health plan rate projections for premium tiers in all plans offered to active employees and retirees; and

 

Whereas, The DER wishes to communicate 2024 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

 

Drafter

Renee Joos

09/07/2023