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<br /> - <br /> Memorandum - Personnel Policy/Insurance Benefits . <br /> Page Two <br /> February 13, 1998 <br /> The increased annual cost to the City for providing this coverage is <br /> $1,298. <br /> 2. Short-Term Disahility <br /> a, Current <br /> The City currently provides short-term disability through Minnesota <br /> Mutual. The benefit amount is limited to 5200 per month for non-union <br /> employees. Union employees pay the full cost of their STD benefit of <br /> $300 per week. The total cost for $200 of benefit for the non-union <br /> employees is $1,404 per year. <br /> b, Proposed <br /> Staff solicited proposals that would provide each employee with STD. <br /> There is a variety of components as part of STD that must be evaluated to <br /> determine which coverage best fits the need of City employees. <br /> The STD coverage being proposed has the following specifics: <br /> . Begins 1st day of accident/8tle day of illness <br /> . Benefit duration is 13 weeks <br /> . Benefit amount will be 60% of earnings, with $I,OOO/month . <br /> maxImum <br /> The total cost for providing this coverage through Fortis Benefits <br /> Insurance Company is $2,391.84. This rate is guaranteed for 15 months. <br /> The increased cost to the City for providing this coverage is $987.84. <br /> 3. Lonr;-Term Disahility <br /> a, CII rren t <br /> The City does not currently offer long-term disability insurance coverage. <br /> b. Proposed <br /> Again, staff solicited proposals which would provide an L TD insurance <br /> benefit at the cost of the City. Similar to STD, there are a variety of <br /> components which must be evaluated to determine which coverage best <br /> fits the need of City employees. <br /> . <br /> - -- - <br />