Hampshire takes steps to delay financial impact of ACA
By Denise Moran For Sun-Times Media October 4, 2013 12:52PM
Updated: October 18, 2013 1:28PM
HAMPSHIRE — The village board has switched the renewal date for its employee health insurance in a move officials said would delay the impact of federal Affordable Care Act on the village.
The board unanimously approved an option provided by Blue Cross Blue Shield of Illinois to move the renewal date to Dec. 1, 2013.
In recent years, the health insurance plan was renewed every year in March. If the board had not approved going with the option, the renewal date would have been March 1, 2014.
According to Village Administrator Doug Maxeiner, moving the renewal date would decrease the village’s overall cost by 1.2 percent, or approximately $4,000. The impacts of the Affordable Care Act would be delayed until Dec. 1, 2014.
In looking at the new requirements of the mandated ACA, Maxeiner stated, “There is considerable uncertainty on how the 2014 renewal will affect the village’s health insurance plan. For example, the ACA requires new deductible and co-pay benefits for employees which are significantly higher than what our plan participants have historically experienced. In addition, the federal legislation requires insurers to implement an age-rated premium structure per plan participant.”
Under the current rate structure, Blue Cross Blue Shield premiums for family coverage were the same regardless of the number of family members. The ACA decreases the premiums for smaller families and increases it for larger families.
In other news, the village is currently seeking two people for its plan commission and one person for its police and fire commission. Interested individuals should contact the village hall, 234 South State St., or call 847-683-2181.