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TO: Mayor Richard C. Irvin
FROM: Alisia Lewis, Chief Human Resources Officer
DATE: 8/4/2023
SUBJECT:
A Resolution Establishing C.O.B.R.A. Insurance Monthly Rates Effective January 1, 2024-December 31, 2024.
PURPOSE:
To establish the 2024 C.O.B.R.A. rates for the City of Aurora's OAP Access and Value HSA(HDHP) comprehensive medical plans, Blue Cross Blue Shield Blue Advantage HMO and dental plan. The City is obligated by law to offer C.O.B.R.A. to employees and their covered dependents when they separate from employment for up to eighteen (18) months at 102% for the current premium rate.
BACKGROUND:
Each year the C.O.B.R.A. rates are adjusted to reflect an additional 2% administrative fee to the current health and dental premiums.
DISCUSSION:
2023 and 2024 rate sheet for comparison is attached.
IMPACT STATEMENT:
No impact.
RECOMMENDATIONS:
Place on the Finance Committee calendar for approval to City Council.
cc: Finance Committee
CITY OF AURORA, ILLINOIS
RESOLUTION NO. _________
DATE OF PASSAGE ________________
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A Resolution establishing C.O.B.R.A. Insurance Monthly Rates Effective January 1, 2024 to December 31, 2024.
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WHEREAS, the City of Aurora has a population of more than 25,000 persons and is, therefore, a home rule unit under subsection (a) of Section 6 of Article VII of the Illinois Constitution of 1970; and
WHEREAS, subject to said Section, a home rule unit may exercise any power and perform any function pertaining to its government and affairs for the protection of the public health, safety, morals, and welfare; and
WHEREAS, it has been determined that the C.O.B.R.A. rates set forth herein represent equitable and reasonable amounts for eligible participants in the City health plans;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Aurora, Illinois, as follows: that the attached City of Aurora C.O.B.R.A. rates are hereby adopted for 2024 as attached and hereto and made a part of hereof as Exhibit "A'.