HomeMy WebLinkAbout2020/11/17-Attachments-RESOLUTION - Premium HolidayA Resolution
NO.
AUTHORIZING A "PREMIUM HOLIDAY" FOR ACTIVE EMPLOYEES
DURING THE DECEMBER PAY PERIODS AND USE OF $1,100,000 OF FUND
BALANCE TO OFFSET THE COST OF THE "PREMIUM HOLIDAY"
WHEREAS, the City of Fort Worth ("City") self -funds its health insurance plan ("Plan")
available to eligible and participating employees, retirees, spouses and dependents;
WHEREAS, the Plan offers both a health center and a consumer choice option for
participating active employees;
WHEREAS, the active employees/members participating in the Plan exercised good
healthcare decisions during fiscal year 2020 and utilized the various options available through
the Plan, which has resulted in a financial surplus in the Plan for active participating employees;
WHEREAS, the Plan ended fiscal year 2020 with approximately a $9,000,000 surplus
for participating active employees/members, which adds to the existing fund balance of
approximately $11,000,000 in the Plan; and
WHEREAS, the City Manager's Office recommends using a portion of the fund balance
in the Plan for a "premium holiday" that excuses premium payments for active employees
participating in the Plan for both pay periods in December, at a total cost of approximately
$1,100,000.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF FORT WORTH, TEXAS, THAT:
1. No healthcare premiums will be deducted from the paychecks of active
employees who are participants in the Plan, for either pay period in December 2020 (Pay Period
25 and Pay Period 26).
2. Use of approximately $1,100,000 from fund balance in the Plan to offset the cost
of forgiving the premium payments in December for active employees who are participants in
the Plan is hereby authorized.
Adopted this day of 2020.
ATTEST:
WE
Mary Kayser, City Secretary