HomeMy WebLinkAboutBPW-10-18-06-02 Suspend Ins. Premium
RESOLUTION BPW 10-18-06-02
A RESOLUTION TEMPORARILY SUSPENDING EMPLOYER AND EMPLOYEE
HEALTH INSURANCE PREMIUM PAYMENTS
WHEREAS, the City Medical Escrow Fund (the "Fund"), as established by
Ordinance D-I048 on February 21, 1994, currently has a balance in excess of $2 million;
and
WHEREAS, the current balance, when combined with anticipated revenue for
2007, exceeds what is necessary to pay anticipated claims and administrative expenses
for the foreseeable future; and
WHEREAS, it is not in the best interests of the City or its employees to keep in
the Fund a reserve greater than what is reasonably required.
NOW, THEREFORE, BE IT RESOLVED by the Carmel Board of Public Works
and Safety as follows:
Effective November 1,2006, to December 31,2006, health insurance premiums will not
be collected from Plan participants who are active or retired employees, or from the City
of Carmel. Premium payments will resume as scheduled on January 1,2007.
CITY OF CARMEL, INDIANA
By and through its Board of Public W;orks and Safety
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10/18 JOt,
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Diana Cordray, IA C, Clerk-Treasurer
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