Whitefish Bay to save $622,000 on employee health insurance
WEA Trust provides lowest cost option; saves Bay $622,000 over two years
Whitefish Bay - The village of Whitefish Bay will save an estimated $622,000 on employee health insurance over the next two years.
The Village Board on Monday, following closed session discussion, voted to select WEA Trust as the village's health insurance provider for 2013.
Village Manager Patrick DeGrave said the move will save the village nearly $350,000 in health insurance costs in 2013, and guarantees a price lock not to exceed 9 percent for 2014.
Whitefish Bay's current health insurance policy is through the Wisconsin Department of Employee Trust Funds, DeGrave explained, which allows employees to choose from a selection of providers, including WEA Trust. Beginning in 2013, the village will strictly be offering the plan available through WEA Trust.
"If you chose the lowest priced provider through the state plan for next year, it is WEA Trust. We're just buying it direct," DeGrave said. "We're buying the exact same thing - same deductible, everything - and saving that much money by just simply cutting out the state as the administrator of the plan."
DeGrave said the majority of Whitefish Bay employees typically choose the lowest priced plan available to them.
The cost to employees will be substantially less under the selected plan, DeGrave said, with monthly premiums of about $564 for a single plan and $1,278 for a family plan. Employees will pay roughly 9 percent of those costs, with the village paying the remainder.
The annual deductible for a single plan will be $500, and the annual deductible for a family plan will be $1,000. Employee co-pays will be $25 for an office visit, $50 for urgent care, and $100 for an emergency room visit.
An informational meeting will be held Nov. 29 to inform employees of the changes and address any questions they may have, DeGrave said.
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