ITEM NUMBER: 6.F.
School Board Regular Meeting
- Meeting Date:
- 03/21/2022
- Prepared By:
- Tom Sager
Item Type:
Subject:
Approval of 2022-2023 Employee Health Insurance Renewal Rates
Background:
Mankato Area Public Schools recently received notice from the South Central Service Cooperative that there will be a rate increase of 5% to the District’s employee health insurance plans for the 2022-2023 school year and will be transitioning to Medica. The monthly rates will be as follows:
| PLAN | SINGLE | FAMILY |
| Basic + | $1078.88 | $2906.93 |
| Double Gold | $1208.55 | $3199.88 |
| $750 CMM | $867.83 | $2289.00 |
| $3250 CDHP | $733.95 | $1938.83 |
| $6350 CDHP | $583.80 | $1542.45 |
Recommended Action:
The administration and the employee insurance committee consisting of representation from all employee groups recommend acceptance of the overall 5% rate increase for the 2022-2023 health insurance plans with the transition to Medica. This also includes a rate cap guarantee not to exceed 7.5% for plan year 2023-24. From 2021-22 through 2023-24, the District will experience an average annual increase of 1.83 percent on its health insurance. This is significantly below industry trends.