Committee hears health-insurance rate study: staff reluctant to swap plans without preserving retirees' benefits

Staff described a 2025 rate study conducted by a firm named Boreslow and explained why the city did not switch providers. The study indicated lower first-year premiums could be available, but staff said the firm would not commit to multi-year pricing or replicate the city's retiree benefit package.

"They couldn't replicate the exact benefit package that we offer now," the staff member said, noting retirees could lose prescription coverage and the city would have to take on billing and collection for retirees in-house. The staff also said they are working with Hub International on rate-shopping to identify options that preserve retirees' benefits.

Committee members asked for a copy of the study and peer-group comparisons of the city's benefits against similar municipalities. Staff said they would check whether the study materials can be shared and would follow up with HR on the number of retirees enrolled and the exact design of retiree coverage through Health Trust.