File #: 13-0416    Version: 1 Name: Disability insurance
Type: Report Status: Passed
File created: 11/26/2013 In control: Work Session
On agenda: 12/3/2013 Final action: 12/3/2013
Title: Matters relative to long term and short term disability insurance
Sponsors: Pete Souza
Attachments: 1. 1-8-13 minutes on ST-LD disability insurance, 2. 11-13-12 minutes on ST-LD disability insurance, 3. January 2013 provider analysis, 4. January 2013 provider spreadsheet analysis, 5. January 2013 short and long term disability rates
Related files: 12-0445
Title
Matters relative to long term and short term disability insurance
 
Body
SUMMARY:
Councilman Souza will lead a discussion regarding the insurance, which is no longer provided at no-cost to the employees (by vote of City Council on November 13, 2012).  The employees do have an opportunity to purchase it through payroll deduction.
 
The cost to the city, when the city was paying for Long Term and Short Term disability insurance was around $72,000 per year.  The cost for Long Term on the last bill paid in December of 2012 was $3,956.06 for Short Term coverage and $2064.62 for Long Term Coverage.   In order to switch back to 100% paid by the City it would be necessary to put out Bids on this product.   
 
BUDGET ACCOUNT:
 
Recommended Action
NECESSARY COUNCIL ACTION: