Explanation
BACKGROUND: To maintain the employee insurance programs in accordance with the negotiated labor contracts, appropriation is necessary for the continuation of all employee benefits programs. To determine the amounts necessary for the annual appropriation, current utilization and projected future claims were analyzed and trended on the basis of a three-year average of actual city utilization in conjunction with industry trends, as well as actuarial services. The appropriation included 2004 budgeted amounts, employee premium contributions and COBRA premium deposits.
FISCAL IMPACT: Claims costs and administrative fees for 2003 and are estimated at $62,108,309. A total of $62,937,818.00 is projected to be required for 2004.
These funds are needed to cover the costs of the City employee insurances.
Appropriation is being made to the following programs:
Medical Plan (including COBRA) 37,700,723
Dental Plan 7,120,952
Life Plan 831,811
Disability Plan 2,353,092
Vision Plan 1,062,401
Prescription Drug Plan 13,868,839
TOTAL 62,937,818.00
Title
To make appropriations for the 12 months ending January 31, 2005 for the funding of the City employee insurance programs, and to declare an emergency. ($62,937,818.00 )
Body
WHEREAS, an emergency exists in the usual daily operation of the City of Columbus in that it is immediately necessary to appropriate funds for the City's various employee insurance programs to ensure continued employee insurance coverage thereby preserving the public peace, property, health, safety and welfare;
Now, Therefore,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS, OHIO
SECTION 1. That from the monies in and from all monies estimated to come into the Employee Benefits Fund 502, from any and all sources during the 12 months ending January 31, 2005, the following appropriations are hereby authorized and directed:
SEE ATTACHMENT ORD2739-2003.XLS
SECTION 2. That from the mo...
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