Title
Human Resources Department recommending adoption of Resolution 263-2008 providing employees eligible for the Golden Handshake (window period July 18, 2008 to September 26, 2008) be provided with one opportunity to change health insurance programs.
RECOMMENDED ACTION: Approve.
Body
BUDGET SUMMARY:
Total Estimated Cost $20,976
Funding
Budgeted $
New Funding $
Savings $
Other $
Total Funding Available $
Change To Net County Cost $20,976
Fiscal Impact/Change to Net County Cost: Possible fiscal impact of up to $20,976 depending upon employee elections of health benefits program changes
Background: The Board of Supervisors implemented a Golden Handshake provision to facilitate early retirement through Resolution No. 163-2008. A window period was established, which began on July 18, 2008 and will conclude on September 26, 2008. Employees designated as qualified for the Golden Handshake must retire no later than September 25, 2008 to receive this benefit.
County employees are only allowed to select an alternative health insurance program during the open enrollment period, which began May 15, 2008 and ended June 2, 2008. Current policies and procedures of the Human Resources Department preclude employees from selecting an alternative health insurance program during any period that is not the open enrollment period. The only exception to this would be a "qualifying event"; retirement is not considered a "qualifying event".
Reason for Recommendation: Employees designated as qualified to receive the Golden Handshake were unaware of their eligibliity during the open enrollment period. As such, qualified employees were unable to select an appropriate health insurance program during the open enrollment period, which is an important component of responsible retirement planning.
Action to be taken following Board approval: Employees in classifications eligible for the Golden Handshake fo...
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