Laserfiche WebLink
Approve Changes to 2024 Employee Benefits <br />AUGUST 1, 2023 <br />Page 2 <br />and resources. Employee cost will remain the same to maintain existing coverages for <br />voluntary life and AD&D coverages. The costs of the supplemental insurance benefits <br />are born entirely by the employees who elect to participate in voluntary plans (as the <br />City does not contribute monies toward additional voluntary coverage options). The <br />Standard has an A (Excellent) rating. <br />Providing an EAP contributes to decreased absenteeism, reduced accidents, fewer <br />workers compensation claims, greater employee retention, fewer labor disputes, and <br />significantly reduced medical costs arising from early identification and treatment of <br />individual mental health and substance use issues. The City has contracted with <br />REACH to provide EAP services, which include licensed and certified employee <br />assistance professionals that provide short-term counseling, assessment, and referral <br />services. The City provides this invaluable service to all full- and part-time employees <br />and their families as a City -sponsored benefit. REACH has offered a proposal to <br />maintain existing monthly cost of $1.85 per full-time and $1.25 per part-time employee <br />with a rate guarantee of three (3) years. <br />ENVIRONMENTAL IMPACT <br />The consideration and approval of the proposed action do not constitute a project under <br />the California Environmental Quality Act. <br />FISCAL IMPACT <br />Both vendors have guaranteed these rates for the next three (3) years. The current <br />fiscal year funding is available in the FY 23-24 budget and future fiscal year funding will <br />be included in the proposed budgets for City Council consideration. <br />Fiscal <br />Accounting <br />Accounting Unit —Account <br />Year <br />Unit — <br />Fund Description <br />No. Description <br />Amount <br />Account No <br />Agreement Term (January 1, 2024 through December 31, 2026) - Group Life Insurance, AD&D and <br />LTD Coverage <br />2023- <br />08109053- <br />Employee Group <br />Employee Group Insurance- <br />$ 105,500.00 <br />24 <br />64010 <br />Insurance <br />Insurance payment <br />2024- <br />08109053- <br />Employee Group <br />Employee Group Insurance- <br />$ 211,000.00 <br />25 <br />64010 <br />Insurance <br />Insurance payment <br />2025- <br />08109053- <br />Employee Group <br />Employee Group Insurance- <br />$ 211,000.00 <br />26 <br />64010 <br />Insurance <br />Insurance payment <br />2026- <br />08109053- <br />Employee Group <br />Employee Group Insurance- <br />$ 105,500.00 <br />27 <br />64010 <br />Insurance <br />Insurance payment <br />TOTAL <br />$ 633,000.00 <br />City Council 17 — 2 8/1/2023 <br />