Small Increase Forecast for Town Health Insurance Rates

By Meredith McCulloch

FinanceCommitteeOn March 6 Finance Director Victor Garofalo told the Finance Committee that health insurance rates are projected to rise by only 1-1.5% in 2015, less than expected. This is the lowest increase in over a decade and represents a savings of $150,000 in next year’s budget.

The Town joined GIC (Group Insurance Commission) two years ago to take advantage of the lower rates available to a larger group. It provides health insurance for current employees and retirees plus supplemental insurance for retirees on Medicare.  Participants include the Commonwealth, 39 municipalities and other government entities. The Group Insurance Commission is a quasi-independent state agency governed by a 17-member Commission appointed by the Governor.


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