BACKGROUND:
This agreement is for employer provided insurance benefit rates for 2021 provided to all Class I: Full-time elected officials and employees of the Township not covered by collective bargaining agreements, and Class II: Full-time employees of the Township covered by collective bargaining agreements:
- Dental Insurance – Delta Dental
- Health Insurance – Blue Cross/Blue Shield PPO
- Life, Accidental Death & Dismemberment (AD&D) and Long-Term Disability (LTD) Insurance –Hartford Life Insurance Company
- Voluntary Supplemental Insurance – AFLAC
Employer provided health insurance, dental insurance, and life insurance benefits are reviewed and renewed or modified as deemed necessary and appropriate on an annual basis. The following is a synopsis of the aforementioned benefit rates for 2021:
Health Insurance – The 2021 rates show a 42.85% decrease from 2020 rates due to the elimination of the Division 0003 Health Insurance Plan (as negotiated through our collective bargaining agreements 2019-2021), for an estimated annual expense of $1,562,615.52.
Dental Insurance – The 2021 rate had 0.00% increase from 2020, as rate lock from 2019-2020 was offered for 2021, with an estimated annual expense of $110,503.44.
Life, AD&D and LTD Insurance – The 2021 rates had a 0.00% increase from 2020 as rate was locked in for a two-year period (2020-2021), with an estimated annual expense of $30,123.07.
AFLAC Voluntary Supplemental Insurance – The Township is transitioning to a group policy for AFLAC Voluntary Supplemental Insurance to provide lower rates to employees. There is no cost to the employer for this voluntary benefit, all premiums are paid solely by the employee if they elect coverage.