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Year Premiums per 1�Ionth Citv Contribution Emplovee Contribution <br />2002 HEALTH PARTNERS <br />Plus/1 00% Option <br />Single $292.30 <br />Family $729.93 <br />Deductible/80% Option <br />Single $262.34 <br />Family $586.31 <br />2003 PREFERRED ONE <br />Plus/1 00% Option <br />Single $320.84 <br />Family $80120 <br />Deductible/80% Option <br />Single $263.09 <br />Family $656.98 <br />$292.30 <br />$490.21 <br />$26234 <br />$41722 <br />$341.34 <br />$561.48 <br />$341.34 <br />$561.48 <br />$0 <br />$239.72 <br />$0 <br />$169.09 <br />$0 <br />$239.72 <br />$0 <br />$95.50 <br />Financial Implications: <br />The total cost to the City for health insurance premiums will not exceed $933,597 for 2003. Staff anticipates a <br />lower actual annual expense as more and more of our employees are expressing interest in the Deductible/80% <br />Plan, the less expensive plan offered. We will know the exact cost after Open Enrollment in November when <br />employees choose the option they want. <br />The Preferred One plan will probably cost the City — and its employees -- an additional $80,000 to $100,000 <br />more in 2003 than in 2002. The HealthPartners plan would have cost the City and its employees about twice <br />that much. Hence, by contracting with Preferred One, both the City and its employees can pay smaller <br />premiums than we would have paid by renewing with HealthPartners. Sufficient funds are budgeted in 2003 to <br />cover these premium costs. <br />Council Action Requested: <br />Motion approving an agreement with Preferred One to provide health insurance for the period January 1, 2003 <br />to December 31, 2003 at the rates and with the options set forth above. <br />