Commissioners Approve Insurance Renewal with Gibon, Ammends 125 Plan for County Employee's Share of Insurance Payments

Wednesday, March 6, 2024 at 9:08 AM

The County Commissioners considered the renewal proposal from Gibson for the county’s Commercial Risk management and Insurance.

Commissioner Stan Klotz said he and Commissioner Mike Burroughs met with Gibson representative about the renewal of the county’s commercial policy, and liability, along with the coverage of all the county’s buildings, assets, and properties.

The total cost is $730,612 which is an increase of 6.35% or $43,594. Klotz said in some cases the cost went down a little bit, but other coverage costs went up. Some of the increase was due to the increase in property values and replacement costs.

The three commissioners approved the renewal with Gibson for the county’s liability and commercial properties.

The commissioners also approved amending the 125 Plan for the county employee’s contribution to health insurance.

In July of 2022, the commissioners reduced the employee share of the medical insurance cost to $1 per pay and reduced the employee share of the dependent cost to $50 per pay when prices for gasoline, food, and other expenses started to skyrocket.

The amendment takes the employee contribution to insurance back up to what it was before July 2022. Commissioner Klotz said there is no increase for employees, only that employees will resume paying their full portion of the insurance again this year.