Village of Massena seeing significant rise in health care costs
Jan. 15—MASSENA — The village of
Treasurer Kevin M. Felt said they're looking at a 40.9% increase in
He said that will increase the village's monthly cost from
"I'm not sure why it was that jump, but it did go up," Felt said.
The village has a separate plan with
Felt said they also received an update on the village's premiums for
"They had submitted a request for 13% to the state," Village Administrator
"They don't always get that, so we're better off for it," Felt said.
He said their provider updates premiums on a calendar year basis. But, those premiums cover two fiscal years since the village's fiscal year runs from June through May.
"That's made to cross over both fiscal years because of our fiscal year being June through May. We will see an increase in the premium costs of 4.94% for fiscal year 2024-2025, January to May, and fiscal year 2025-2026, June to December," he said.
The premium to cover employees will increase from
The premium to cover employees and children will increase from
During the latest village board meeting, Felt also reported on the status of the village's audit with its new firm, the
"Our auditors,
Felt anticipated wrapping up his financial statement preparation last month so it could be reviewed this month with a goal of completion by the end of January.
___


Columbia Insurance Group Modernizes Payments with One Inc
UnitedHealth tops profit forecasts but medical costs linger for health care giant
Advisor News
- Help women break through their retirement roadblocks
- Advisors await SEC decision on Vanguard fair fund distribution
- What to do when adult children become the client
- Judge rules insurers not liable for Newport Group’s AME Church pension lawsuit
- Why vacation homes are becoming a major blind spot for advisors
More Advisor NewsAnnuity News
- Legacy Marketing Group partners with Malibu Life USA for annuity launch
- Best’s Market Segment Report: Global Life/Annuity Reinsurers Remained Poised for Steady Growth
- When technology becomes easy to rent, what still separates life and annuity carriers?
- Legacy Marketing Group® and Malibu Life USA Announce Distribution Partnership for New Fixed Indexed Annuity Platform
- Empower Annuity Insurance Company of America Trademark Application for “EMPOWER WHAT’S NEXT” Filed: Empower Annuity Insurance Company of America
More Annuity NewsHealth/Employee Benefits News
Life Insurance News
- How advisors can get clients to act sooner on life insurance
- AM Best Affirms Credit Ratings of Crum & Forster Insurance Group’s Members and Monitor Life Insurance Company of New York
- AM Best Affirms Credit Ratings of Life Insurance Company Centras Life JSC
- AM Best Withdraws Credit Ratings of New Providence Life Insurance Company
- When technology becomes easy to rent, what still separates life and annuity carriers?
More Life Insurance News