Village of Potsdam entering into new agreement for retiree insurance

POTSDAM – The village board is getting into a new retiree insurance policy that would keep the current level of coverage but save the village about $50,000 per year.

"We've been reviewing our options, and have identified a plan that we believe will be more cost effective to the village," Village Administrator Isabelle Gates-Shult said during the Sept. 8 village board meeting. "For our retirees, this should not impact any of the coverage that they receive, but from the village's perspective the new plan would provide a significant reduction in our costs. We anticipate saving about 50,000 dollars with this new plan."

Village trustees voted to allow a new arrangement in participating with Broome County's Purchasing Alliance (BCPA) for Medicare Advantage and prescription drug benefits starting Jan. 1. It will apply only to retirees who have Medicare as their primary health insurance.

The board's resolution says BCPA has contracts with Excellus BlueCross/BlueShield for Medicare Advantage and prescription plans for retirees who have Medicare as their primary insurance. Participating municipalities make individual contracts with Excellus.

Retirees will get notifications outlining the change. The village may host information sessions, if necessary.

The New York State Association of Counties claims the cooperative lowered premiums to participating public entities in 2021 by just over $9 million.

The village joined with the Broome County cooperative in June 2022.

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