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Mayor & City Council <br />November 17, 1992 <br />Page 2 <br />employees' share of health insurance costs would rise from <br />$41 to $87.84. <br />It has been requested that we increase the cap on health <br />insurance costs to a total $40,500. This would result in <br />an increase in the amount paid per employee by the City for <br />dependent coverage from $271.29 to $318. Assuming we have <br />a 15% rate increase, this would ensure that the employees' <br />maximum out -of- pocket costs remain at $41. Should a rate <br />increase exceed 15 %, the employees' costs would be <br />greater. Should a rate increase of less than 15% occur, <br />the employees' costs would be reduced accordingly. <br />This benefit increase is worth an additional $560.52 per <br />employee per year. The total cost for nine employees with <br />dependent coverage is $5,044.68. This is within budgeted <br />amounts. <br />JRH:kpv <br />Enclosures <br />Page 5 <br />