The City of Lisbon’s health insurance will reduce to a $500 deductible for single people and $1,000 for families for the coming fiscal year.
Jamie Hopkins with Cigosity noted that the increase for the City of Lisbon this year was slated for a 11.3 percent increase, or $17,000 more than last year.
Moving to a $500 deductible comes with an additional $5,400 price tag, but Hopkins noted it would improve the health benefit for City of Lisbon employees. Currently, the city offers a $1,000 deductible for single people or $2,000 for families. Members are responsible for 20 percent of health costs after they hit their deductible.
A zero dollar deductible would increase the city’s insurance contribution by $48,000 annually.
“A lower deductible helps with stronger retention and aligns with what is offered in nearby communities,” Hopkins said.
Hopkins noted if there is extra money for insurance, it is a good place for the city to make an investment and offer something of value to the benefit plans the city offers.
Mayor Doug O’Connor said he has worked over the past three to four years to make salaries more competitive, and improving this benefit is a way to help bridge some of that gap as well.
Council member John Bardsley said he was in favor of offering more competitive insurance rates, as was council member Sara Nost.
City administrator Brandon Siggins said the council had budgeted for a 15 percent increase, which put the $500 deductible rate in line with current city expenses for the coming fiscal year.