01/23/2017 Meeting Minutes - Laserfiche WebLink

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Minutes of the Regular Meeting of Council Monday, January 23, 2017 - Page 28 Council President Saponaro asked, any discussion? That's phenomenal again. Ron you have done an amazing job. The work of the Administration, Council and everyone together has proven very well in terins of what is going on with the finances for the Village. Kudos to you and your department. Roll Call: AYES: All Motion Carried NAYS: None Receipt of Financial Reports for December 2016 Acknowledged and Approved Motion to funel the 1Vieelical Expense Reirnbursement Plan at the level of $1,000 single/$2,000 family and the Health Iaeimbursement Arrangement at the level of $2,000 single/$4,000 family for 2017. (Finance Department) Mrs. Mills, seconded by Mr. Marquardt, made a motion to fund the Medical Expense Reimbursement Plan at the level of $1,000 single/$2,000 family and the Health Reimbursement Arrangement at the level of $2,000 single/$4,000 family for 2017. (Finance Department) Council President Saponaro asked, discussion? Mr. Wynne stated, this funding based upon current enrollment in the health plan -$30;000 for the MERP Plan and $166,000 for the HRA. That is fully funding the HRA. The hope is that we will only spend 60-70% of that $166,000. We won't know that until we know how the claims experience shakes out throughout the year. Council President Saponaro asked, does everyone understand what this is fully? Can we go into a better discussion on the MERP? Tell us for the record how this works. Mr. Wynne explained, our medical plan has a deductible of $2,000 for an individual and $4,000 for a family. For the employees who selected the MERP option, the Village will put half the amount of that deductible into a debit card for them. A single person would get $1,000. Anybody with more than one, like employee plus spouse or employee plus child or family would get $2,000 on a debit card that can be used towards the cost of their deductible as tliey incur it during the year. It can also be used during the year if they so choose for other things like dental and optical expenses. That money stays with them. At the end of the year if they have not used it, it carries over into the following year. The Health Reimbursement Arrangement is something new that we put in place this year. It operates the same way except the employees are covered for the full $2,000/4,000 if needed. Council President Saponaro stated, these are two different options of plans. They pick the Medical Expense Reimbursement Plan or MERP or they can pick the Health Reimbursement Arrangement.