(A) There is established a fully-funded health insurance plan for regular full-time employees of the Town of Cedar Lake.
(B) There is established a health savings account (HSA) with a high deductible health plan (HDHP) for regular full-time employees of the Town of Cedar Lake as described in the IRS Code and further advised and instituted by the agent of record.
(C) The Clerk-Treasurer is directed and authorized to implement the health savings account (HSA) as advised and instituted by the agent of record.
(D) The town will contribute an initial sum of money for each regular full-time employee participating in the health savings account (HSA) as an encouragement to participate, and as an overall cost-saving measure to the town and its taxpayers.
(1) The contribution defined for year 2012 shall be as follows: $1,500 for each employee currently participating in the health savings account.
(2) For year 2013 and beyond, unless amended otherwise, the town’s contribution will revert back to the following:
(a) Five hundred dollars for one employee only.
(b) Seven hundred fifty dollars for one employee and spouse, or one employee and child/children.
(c) One thousand dollars for one employee and his/her family consisting of spouse and one or more children.
(3) The Town Council, as deemed necessary, may determine further contribution for existing participants of the health savings account as an incentive to continue participation in the plan.
(E) (1)A regular full-time employee who selects coverage under the town dental plan only will have the following contribution towards the premium deducted from his or her compensation as follows:
(a) One dollar monthly for one employee only.
(b) Two dollar monthly for one employee and spouse, or one employee and child/children.
(c) Three dollar monthly for one employee and his or her family consisting of spouse and one or more children.
(2) The monthly amount will be divided appropriately in order for the contribution to be deducted from 24 pay periods. For example: an employee contributing $1 monthly will have $.50 deducted from his or her bi-weekly pay for a total of 24 pay periods.
(Ord. 1035, passed 7-29-08; Am. Ord. 1152, passed 3-20-12)