Warning: Use of undefined constant REQUEST_URI - assumed 'REQUEST_URI' (this will throw an Error in a future version of PHP) in C:\xampp\htdocs\mbc1\wp-content\themes\jannah4\functions.php on line 73
Village of Massena sees estimated 5.75 p.c enhance in medical insurance premiums – jj
rss

Village of Massena sees estimated 5.75 p.c enhance in medical insurance premiums

[ad_1]

MASSENA — Village of Massena officials had budgeted a 10 percent increase in health insurance premiums for 2020, but Treasurer Kevin Felt says they have that covered.

He said the estimated increase in Excellus Blue Cross Blue Shield premiums is actually 5.75 percent.

“When we did the budget for this year, we had anticipated a 10 percent increase. We never know what it’s going to be,” he told village trustees during their regular monthly board meeting in December.

Mr. Felt said that, because their health insurance provider updates premiums on a calendar year basis, the change will increase the costs for January to May of fiscal year 2019-20 and June to December of fiscal year 2020-21.

“They’re updated on a calendar year basis, so it crosses two fiscal years for us. So it’s going to impact January through May of this year and June through December of 2020-21,” he said.

The monthly health insurances rates will increase from $856.10 to $905.24 for employee coverage, $1,712.20 to $1,810.47 for employee and spouse coverage, $1,455.37 to $1,538.91 for employee and children coverage, and $2,439.89 to $2,579.93 for family coverage. The estimated total increase is $151,775.

“Ten percent was a good call based on historical increases,” Deputy Mayor Matthew J. LeBire said. Mr. Felt said they’ll also see an increase in United Healthcare costs for the Prescription and Medicare Supplement plan for employees, retirees and/or spouses age 65 and over.

“The Prescription and Medicare Supplement plan for employees, retirees and/or spouses age 65 and over from United Healthcare also runs on a calendar basis. Based on current enrollment, they’re expecting a roughly $19,000 increase (in 2020),” he said.

The monthly rate for 2019 was $418. That will rise to $443.08 in 2020, a 6 percent increase.

[ad_2]
Source link

Related Articles

Leave a Reply

Back to top button
Close