SUBJECT
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Public Hearing to consider adoption of an ordinance amending Polk County Ordinance 2018-073, the Polk County Government's Retiree Insurance Benefits Ordinance, as amended. (Estimated initial range of savings to the County is between $46,000 and $185,000)
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DESCRIPTION
The Board is asked to consider adoption of an ordinance, the title of which is:
AN ORDINANCE OF POLK COUNTY, FLORIDA, AMENDING ORDINANCE NO. 2018-073, ENTITLED "THE POLK COUNTY GOVERNMENT'S RETIREE INSURANCE BENEFITS ORDINANCE" (AS PREVIOUSLY AMENDED BY ORD. NO. 2020-044, THE "ORDINANCE"); AMENDING SECTION 2 OF THE ORDINANCE TO ALLOW UNDER-65 RETIREES WHO RETIRED PRIOR TO NOVEMBER 20, 2018, TO ELECT, FOR A LIMITED 90-DAY PERIOD, TO CEASE PARTICIPATION IN THE GROUP HEALTH INSURANCE PLAN, ENTER INTO INACTIVE STATUS, AND ENROLL ONE TIME AT A LATER DATE; PROVIDING FOR SEVERABILITY; AND PROVIDING FOR AN EFFECTIVE DATE.
On November 20, 2018, the Board enacted Ordinance No. 2018-073, the Polk County Government's Retiree Insurance Benefits Ordinance, which was subsequently amended by Ordinance No. 2020-044 (collectively, the "Ordinance").
Section 2 of the Ordinance allows a Retired Employee (defined as a Retiree, Eligible Non-Retiree, or Under-65 Retiree) who retires on or after November 20, 2018, and their Eligible Dependents, to elect to cease participation in the group health insurance plan upon retirement, enter into Inactive Status, and enroll one time at a later date.
The County's Finance Committee met in June to consider the impact of amending the Ordinance to provide Under-65 Retirees who retired prior to November 20, 2018, the same opportunity, for a limited 90-day period, to cease participation in the County's group health insurance plan, enter into Inactive Status, and enroll one time at a later date. The Committee found that there are currently 384 Under-65 Retirees enrolled in the County's self-insured medical plan, 148 of whom retired prior to November 20, 2018. The e...
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