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-3- <br /> As to the health insurance waiver and dependent subsidy: <br /> The health plan option selected by the Board on October 2 provides for cost <br /> savings over the amount currently budgeted for health insurance of approximately <br /> $225,000. (This cost savings reflects the dependent subsidy at 42 percent.) <br /> If the Board wishes to pursue reduction of the waiver from the current level as <br /> well as additional cost savings,it is recommended the Board reduce the waiver to <br /> $50 per month and set the dependent subsidy at 40 percent. This increases the <br /> total estimated cost savings to about$250,000. Attachment 7 shows the elements <br /> and cost savings of this recommendation. <br /> This recommendation maintains the waiver at a level where employees may <br /> continue to wish to participate if eligible and maintains about the same relative <br /> level of dependent subsidy. Please note this action would result in a reduction to <br /> each employee currently participating in the waiver of $210 on an annual basis. <br /> The alternative would be to "grandfather" in the employees currently participating <br /> at the$67.50 amount. However,this would not result in the projected$9,660 in <br /> cost savings from reducing the waiver. <br /> Please let me know if you have any question or if I can provide any additional <br /> information. <br />