Yorktown eyes budgeting options to cope with insurance rate spike
Rising employee health insurance premiums have
According to preliminary numbers presented by
"When you look at rates going up by that much, it makes the benefit to our employees practically unaffordable for most families," he said.
In
Like many towns its size, Baker said
And it's not just
Rather, most everyone with a health insurance plan of any sort will be facing higher rates in the year ahead, based on what Baker learned at a recent regional conference hosted by the
One option for dealing with those rate increases, discussed by the council Monday, came in the form of a potential one-time bonus for city employees to offset the increased costs.
The bonus option would allow workers to continue receiving their health plan benefits without paying more, but it also keeps the adjustment from becoming an across-the-board salary increase that would become a recurring annual expense for the city's coffers.
That bonus option remains on the table and will be formally considered as the city moves further along in its annual budget process in the coming weeks.
What the council did vote on Monday was accepting the plan renewal option with the state benefits pool provider so officials could lock in rates for the 2026-27 budget year.
Historically, the benefits pool option, which combines
As discussed at the
In other business A collapsed culvert near the
Officials discussed the problem during the city administrator's report and are moving forward with plans to install a large steel grate over the area temporarily while they work on a permanent solution beneath the street.
Alderman
Although recent rains and state permitting processes have delayed work for several weeks, Rippamonti said he has remained in regular communication with the project engineer and contractor, and plans are in place for significant progress in the coming weeks, dependent on a crucial concrete pour.
Council received an update on the city's annual water consumer report, which received a "good" rating from the state. Notices will be mailed to customers in the coming weeks with utility bills.
The city also heard from several residents during the public comment portion of the meeting, including one speaker addressing recent dog attacks within the city limits (see related story) and two others seeking variances for mobile home installations within the city.


Judge halts Burlington home foreclosure sale after remains found inside
Canadian Dollar Gains Ground On Surging Oil, Rising BoC Hike Bets
Advisor News
- Americans aren’t turning retirement plans into action, LIMRA finds
- Ashley Hinson ‘death tax’ story collides with truth
- How advisors can prepare clients for an uncertain retirement landscape
- Investors aren’t waiting out uncertainty
- Transamerica and Advo(k)ate Advisors launch pooled employer plan
More Advisor NewsAnnuity News
- Corebridge annuity sales slip ahead of Equitable marriage
- California teachers settle class-action lawsuit over in-plan annuity fees
- Jackson Financial CEO caps 40-year career with blockbuster Q2
- Lumos Insurance introduces the Immediate Care Plan to help families fund long-term care
- NAIC regulators begin consensus phase on annuity illustration overhaul
More Annuity NewsHealth/Employee Benefits News
- Endorsing Janoo
- Ashley Hinson unveils insurance transparency bill amid scrutiny of her health care record
- Why Gen Z turns everything – even murder – into a joke
- Ashley Hinson unveils insurance transparency bill amid scrutiny of her health care record
- 3 summer sales habits that build next year’s pipeline
More Health/Employee Benefits NewsLife Insurance News
- Indiana eyes more oversight of insurance companies' exposure to private credit
- HEALEY-DRISCOLL ADMINISTRATION RETURNS $14.5 MILLION TO HEALTH AND DENTAL INSURANCE CONSUMERS AND BUSINESSES
- ‘Uniquely positioned’: Equitable outlines future post-Corebridge merger
- Don't keep checks with clerical errors
- The insurance distributor that builds its own software will win the next decade
More Life Insurance News