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APPROPRIATION COMMITTEE—ATM 2017
<br /> Employee Benefits and Insurance
<br /> Employee Benefits and Insurance includes funds for health, dental, and life insurance, the Town's pension
<br /> assessment, workers' compensation, property and casualty insurance, unemployment insurance, and the Med-
<br /> icare tax.
<br /> The total request for Employee Benefits and Insurance for the FY2018 budget is $35,514,536, which repre-
<br /> sents $1,905,060 or a 5.7%increase from the FY2017 Restated Budget.
<br /> The pie chart below is a breakdown of Employee Benefits & Insurance by category:
<br /> FY2018 Employee Benefits & Insurance
<br /> Total: $35,514,536 (General Fund)
<br /> Health Insurance
<br /> $24,932,984,70%
<br /> 9,14,) 'I 1111111111y
<br /> Dental Insurance,
<br /> $1,066,298,3%
<br /> wpAil
<br /> Unemployment,
<br /> % $200,000,1%
<br /> Contributory
<br /> Retirement,$5,755,537, Workers Comp,
<br /> 16% $807,136,2%
<br /> Medicare, Property&Liability
<br /> $1,749,069, Insurance,$713,893
<br /> 5% 2%
<br /> Other Misc,$289,620,
<br /> 1%
<br /> Health insurance cost is by far the largest category within the Employee Benefits and Insurance budget. The
<br /> FY2018 budget for health insurance is $24,932,984, which represents a $1,318,954 or 5.6% increase over the
<br /> FY2017 restated budget.
<br /> The Town and the Public Employees Committee (PEC)negotiated a three-year successor agreement to remain
<br /> in the state-administered Group Insurance Commission(GIC)health insurance program through FY2018.
<br /> The FY2018 split of healthcare premiums between employer and subscribers is either 82/18 or 75/25 depend-
<br /> ing on the health plan; these are the same splits as in FY2016 and FY2017.
<br /> In actuality, the Town contributes 85% or 80%, so a separate 3% or 5% increase (to the employer splits
<br /> above) paid by the Town to a "Mitigation Fund" per the agreement with the Public Employee Coalition,
<br /> which is used to fund Health Reimbursement Accounts (HRA) for those employees taking the Town's health
<br /> insurance.
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