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HomeMy WebLinkAboutResolution 2008 (37) RESOLUTION TO MODIFY FUNDING OF EMPLOYEE MEDICAL PLAN FOR ONE YEAR Resolution No. 37 CZC Og St. Croix County, Wisconsin WHEREAS, in 2002 the St. Croix County Board of Supervisors adopted a policy for funding the Employee Medical Plan; and WHEREAS, the Employee Medical Plan is a partially self - insured health insurance plan; and WHEREAS, the funding policy identifies the cost components of the Employee Medical Plan and the process by which the premium is established; and WHEREAS, one of the cost components of the premium is called the Reserve, an amount intended to cover costs in the event that the County would change from the current partially self - insured health insurance plan to a fully insured health plan provided by an insurance company, and some other costs; and WHEREAS, the funding policy sets the Reserve amount at 25% of the amount of expected claims in a year (an actuary establishes the amount of expected claims); and WHEREAS, for the past several years the Reserve amount has been set at 31% of expected claims, resulting in a surplus in the Reserve; and WHEREAS, a return to funding the Reserve at 25% of expected claims is necessary; and WHEREAS, the Finance Committee recommends returning to funding the Reserve at 25% of expected claims in two stages over two years by reducing the funding of the Reserve to 28% of expected claims in 2009 and then 25% of expected claims in 2010 and beyond. THEREFORE, be it resolved by the St. Croix County Board of Supervisors that the Reserve amount of the Employee Medical Plan premium be 28% of expected claims in 2009 and 25% of expected claims in 2010 and beyond. Offered by the Finance Committee YES NO ABSTAIN ABSENT SUPERVISOR SIGNAT RE ❑ ❑ ❑ Daryl Standafer ACK- Ed ❑ ❑ ❑ Esther Wentz e , '? ta/-c..� . Sharon Norton- 10 0 ❑ ❑ Bauman f4/ L ela ./ .1/1 ❑ ❑ ❑ Clarence Malick I �/ ❑ ❑ ❑ David Peterson �� /f _ f� _ This Resolution was ado ted by the St. Croix County Board Reviewed as to form on 1 !' ©a of Supervisors on -no I/ o?OOW l ifrYnivytc Gregi' nmerman, Corporation Counsel Cindy Campbell, ounty Clerk