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Background <br /> - Staff provided information relating to employee benefits in the Manager's <br /> recommended budget for FY 2011-12 and at the May and June work sessions. <br /> - Health Insurance <br /> o Funding for up to a 15% (approximately $550,000) health insurance premium <br /> increase. <br /> o Annualized, this increase is equivalent to a 3% salary increase for all permanent <br /> employees. <br /> - Other Employee Benefits <br /> o Supplemental Retirement Contributions <br /> o Flexible Compensation Plan <br /> o Dentallnsurance <br /> o Vision Coverage <br /> Supplemental Retirement Contributions <br /> - Orange County contributes $715 per year ($27.50 per pay period) for each permanent <br /> general employee to one of three Plans (Prudential 401(k), ICMA-RC 457, or <br /> Nationwide 457). <br /> - The total County contribution of $715 per employee is approximately $543,000 per <br /> year. <br /> - When given a choice between receiving the $715 supplemental retirement benefit or <br /> using it to defray their health care premiums, employees chose the following: <br /> Supplemental Health Premiums <br /> Retirement <br /> Total Respondents 372 59% 41% <br /> Without Dependents 178 65% 35% <br /> With Dependents 182 53% 47% <br /> Sworn law enforcement officers would not be able to reduce the state-mandated County <br /> contribution to 401(k). <br /> Flexible Compensation Plan (FSA) <br /> - The County provides a Section 125 Flexible Compensation Plan with a plan year from <br /> December 1 to November 30. <br /> - This Plan includes: <br /> o Tax sheltering of health and dental premiums <br /> o Separate Flexible Spending Accounts for Health Care and Dependent/Child <br /> Care <br /> - If the County implements a Health Savings Account (HSA), the new FSA Plan Year <br /> would change to January 1 to December 31. <br /> Dental Insurance <br /> - Self-insured dental plan through Delta Dental of North Carolina. <br /> - Beginning in 2009, the County initiated a plan to gradually increase its reimbursement <br /> levels for claims each year. <br />