Title
Retiree Medical Benefits
Action
ACTION:
Approve the Manager’s recommendation implementing a phased-out approach to retiree dependent medical contributions to minimize the financial impact to those who retired after January 1, 2017 through October 1, 2024.
Amend the County’s benefit policy to incorporate a footnote that reads as follow: “Dependent Premium Contributions: County subsidy for retiree dependent medical premium costs for employees retiring between January 1, 2017 through October 1, 2024 shall be phased out over a five (5) year period according to the following rates: 2025 - 80%; 2026 - 60%; 2027 - 40%; 2028 - 20%; and in 2029 - 0%.
Staff Contact: Michael A. Bryant, Deputy County Manager
Presentation: Yes
BACKGROUND/JUSTIFICATION:
At the September 4, 2024, regular board meeting, the Board of County Commissioners received the results of outside Counsel’s comprehensive review of the County’s benefits policy and current practice. The Board unanimously approved a motion to continue the current policy for retiree costs for dependent medical coverage until such time that an impact assessment can be completed and a recommendation made to the Board to minimize the financial impact to those who retired after January 1, 2017 through October 1, 2024.
PROCUREMENT BACKGROUND:
N/A
POLICY IMPACT:
N/A
FISCAL IMPACT:
N/A