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■$2,000 or 2,600 Deductible Plan Monthly Deposit: <br />• Single $200 (same as 2015) <br />� Single + 1 $170 (same as 2015) <br />• Family $125 (same as 2015) <br />Dental Renewal: <br />The dental insurance for the City is self-insured. Review of the 2015 dental claims <br />compared to premiums paid resulted in a 3°/o increase in premiums for 2016 and there <br />are no changes in coverage for the plan. <br />Life & Long Term Disability: <br />The City went out to market this year for Life and Long Term Disability insurances due <br />to a renewal from Standard Insurance that came in at a 38% increase. After review of <br />� the bids the award for a three year contract through 2018 was given to Cigna which <br />provides for a very minimal plan change and rate reductions for Long Term Disability <br />and Basic Life insurance. Base life will see a 40% decrease in cost and savings of <br />�� � $7,385 and LTD will see a 23% decrease or $21,012 in savings. This is a total savings <br />of approximately $28,400. <br />� FinancialImpact: <br />�� � The proposed Cafeteria Plan budget for 2016 as presented above is a$53,300 increase over the <br />r��;� 2015 budget and has been budgeted for in the 2016 City Manager budget. <br />Council Action Requested: <br />�� Approve 2016 City benefits insurance renewals with the insurance carriers (subject to <br />review and approval by the City Attorney) and the City's employer cafeteria <br />contributions as described in this report. <br />Prepared by: Eldona Bacon, Human Resources Manager (651) 792-7025 <br />Page 3 of 3 <br />